Using an Electric Blanket Could Save £590.55 Per Month: Cost Of Living Heating Tips
The winter months are always tough on household costs. But with the cost of living crisis, this year things will undoubtedly be even tougher.
MoneyTransfers.com has analysed the most common methods of heating to demonstrate how much individuals could save by opting for cheaper options. The results show quite how expensive bad heating decisions can be.
Electric boilers are the most expensive
According to recent estimates, electric heat costs roughly 16p per KW hour. That means a standard 24 KW electric boiler costs £3.84 per hour to run. Compare this to a similar gas boiler, which costs 4.65p per KW hour – it’s more than three times cheaper. However, avoiding using electricity or gas does not necessarily reduce your costs as much as you might think. The average cost of wood for a wood burner is estimated at 63p per hour, which while cheaper than a boiler is far from the cheapest option we’ve found.
Targeted options are cheapest
Boilers and wood burners heat entire spaces. But the reality is, most of that space is not actually being used. It should therefore come as no surprise that heating methods which are targeted – i.e. only heat a specific, small space – are more cost-efficient.
Many electric blankets require just 100w of electricity, which means they end up costing roughly 3p per hour. Hot water bottles cost almost exactly the same. Boiling 2 litres of water to fill a standard hot water bottle costs roughly 7p. However, the heat generally lasts for at least two hours – meaning a single hour will set you back just 3.5p.
Even if you have 8 people in the house, it will still be 16 times cheaper (and cosier!) to give them each an electric blanket than to turn on your electric boiler. If we make a conservative estimate of 5 hours’ use per day, you could save £590.55 in a 31 day month by swapping your electric boiler for an electric blanket.
Extra tips to make heating go further
Swapping to more cost-effective heating methods is a good start. But if you really want to save this winter, there are a few ways to make your heating go further:
1. Block Draughts
Buying things like draught excluders and thermal lined curtains – each of which will help keep heat in your rooms longer – will ultimately reduce the amount of heating you need to pay for. Using foam strips to draught-proof doors and windows could save £125 per year.
2. Optimise your radiators
Ensure all that expensive boiler heat is optimally used. Make sure your radiators have been bled and cleaned, and are not blocked or covered. These will all help make your heating bill go further. (As will ensuring radiators are only turned on in rooms where they are needed!)
3. Insulate your roof
For those willing to make an investment, insulating your roof is also a great move. A huge amount of heat is lost through the roof, and it is estimated that installing loft insulation in a semi-detached house could save £355 per year on heating bills.
Our research demonstrates how inefficient traditional forms of heating are. We often opt for them simply because they’re easier, but if consumers are willing to make do with more unconventional approaches, their money will go a lot further in these tough winter months!Jonathan Merry, CEO of MoneyTransfers.com