Why Is It Essential to Save Energy if You Want to Save Money?

Wherever you go these days, the cost of energy is rising. Why is this so important in the handling of your personal finances and how can you change it?

All we have to do, Kiran Trivedi readers, is look at the situation in the UK energy market to know what is happening to energy prices across the board.

The UK market is currently embroiled in yet another energy price row. This came about after a proposed 20 month energy price freeze from Labour leader Ed Miliband. The energy companies have reacted by you guessed it, raising prices before anyone could possibly freeze them.

This has created pandemonium. The politicians at Westminster were quick to condemn rising energy prices, but were divided on how to handle it. The coalition government has now responded by changing its energy efficiency schemes in a bid to reform the sector. Naturally it’s hard to see how this can affect energy prices; however some energy companies have already cut the amount of their price hike in response. Some, not all.

However the statistics on rising prices are telling. Back in November, when the energy row was at its height, the Citizens Advice Bureau predicted that if energy companies stayed on their current trajectory, they would have, by December, raised energy prices by 37% since October 2010.

Going on this figure this means that energy prices have been raised by more than a third in just over two years. A steep rise by anyone’s standards that has an effect on the way many households live their lives. This holds true especially when you consider that average earnings have risen by 4.4% in the same period.

This means that many households are left unable to pay their energy bills along with all their other costs. It doesn’t have to be that way.

The best way to combat this is to save energy. Turn off a light when you’re not using it.  Don’t leave the TV on standby when you’re not watching something. Don’t over boil the kettle. These small things can have a real effect on the amount we’re left to pay once the energy bill comes in.

At the end of the day, energy bills are rising steeply, it’s a fact. Don’t let yourself fall prey to rising costs, turn off some fixtures and fittings and save money as you do.