Martin Lewis has revealed how people can "calculate the energy cost" of household appliances as the cost of living crisis continues to worsen.
The MoneySavingExpert founder took to Twitter to share how energy customers can work out how much they are paying to run each of their appliances.
With energy prices increasing following the launch of the UK Government's Energy Price Guarantee on October 1, many households are looking for ways to keep their bills as low as possible ahead of the winter.
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The financial expert tweeted: "How to calculate energy cost of an appliance 1. Find its wattage 2. Know 1000W is a Kilowatt (kW) 3. You pay roughly 34p per kW per hour So 100W (a tenth of a kW) appliance on for two hours is 3.4p an hour x 2 = 6.8p"
He later added: "A few responding to this with "its awful that we're in this state of affairs". While of course the cost of living crisis is awful for many - I don't think a bit of financial/energy literacy is a bad thing whatever the time.
"Knowledge is power and all that."
Before long, dozens of Twitter users had responded to the tweet sharing their thoughts. One said: "Hi Martin, this isn't true for eg an oven or a fridge or dishwasher, because they only operate at max wattage for short periods."
Lewis responded: "I know, but this is a rule of thumb in a simple tweet, which is a good start point. It gives an indication and is most useful when you're talking about "how much will it cost to switch X on" rather than appliances that are constantly on."
Another commented: "Thanks Martin, people need to be able to work things out. Heard phone-ins with people saying they are using candles instead of lights which has got to be way more expensive with modern lightbulbs."
A third shared: "Brilliant this Martin! Exactly the type of thing that teenagers should be taught in school. The more switched on they can be the better."
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