Energy price rises result in new usage behaviours

Data gathered by tado showed that 80% of homes in the UK turned their thermostats down last winter, and Ofgem expects both gas and electricity consumption will continue to fall in the UK because of increased energy costs and the wider cost-of-living crisis.

Homeowners have been warned that due to energy prices still rising after last year’s spikes, they will need to redouble their efforts this winter to keep heating bills down while not compromising on comfort.

The UK’s energy price cap fell at the start of October but forecasters are predicting yet another rise of 3.5% in January. The predicted rise indicates that the annual bill will be almost £1,900 for a typical dual fuel household and meaning the strain on family budgets is far from over.

Dr Craig Lowery, principal consultant at energy experts Cornwall Insight, said: “Our predictions for 2024 show prices continuing to languish well above pre-pandemic prices – something which is currently forecast to remain the case for the remainder of the decade.”

Volatile energy prices mean smart heating solutions such as tado°’s Smart Thermostats and Smart Radiator Thermostats give households the ability to make savings of almost a quarter on average.

Christian Deilmann, tado’s chief product officer and co-founder, added: “Last year’s price shocks really focused people’s minds about their household bills and tado° customers told us that was the main reason they were more careful about managing their energy usage.

“There is now a danger this winter that people will be complacent but energy prices actually remain very high. It is never too late to make your house energy smart and start saving money. tado’s smart thermostats pay for themselves within months.

“Your tado thermostat is a crucial tool to measure and help control your energy costs, meaning you no longer have to guess about how much you have used or wait for your monthly bill with a sense of dread.”

Tado said its customers save on average 22% on their heating costs, equating to an estimated £177 for a typical home at current prices – through features such as geofencing, which automatically turns off the heating when nobody is home. Other smart features include Open Window Detection, Weather Adaptation and Smart Schedules.

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