HOUSEHOLDS across the UK could get a FREE bonus simply for making their home more energy efficient, just as the cost of living bites.
Energy giant, Octopus, is offering its customers a £50 credit on their account for upgrading to the newest smart meters.
1
On money-saving online forum, HotUkDeals, current Octopus customers shared emails they had received from the supplier with details on the credit incentive.
In the email it said: “You could get your hands on £50 credit by upgrading your meters to the latest generation of smart meters.”
You have to have an Octopus Energy account, of course, to claim the money boost, and the dishing out of the cash and appointments to sort a new smart meter for your home were only to happen on a first come first serve basis.
That means if you are in line for extra credit, you’ll need to be quick or you could miss out.
Not everyone will have received an email, but anyone with an Octopus account is urged to check and see if they could cash-in too.
It comes as a welcome boost just as households are set to face a record rise of up to £693 a year on average on their energy bills.
Most read in Money
Earlier in the week, energy regulator Ofgem confirmed that the energy price cap will rise 54% to £1,917 in April.
A cost of living crisis hasn’t helped matters, with prices going up in almost every way imaginable, and some households are having to make the stark decision between heating and eating.
That means an extra £50 to knock off the price of at least one month’s bills could really help all those eligible.
But the bonus goes beyond the cash boost, as a smart meter can help lower your energy bills in the long run too.
Smart meters have been rolled out over the past few years, and give real time information on gas and electricity usage.
It means you can see how much money you’ve spent on your energy bills hour by hour, and day by day.
And it lets you track how much energy you use at night, during the day and peak times.
The display screen will show your energy usage live and show the cost in pounds and pence.
It won’t save you money just by having one. But being able to see your energy usage and the cost could help you understand where you can cut back.
That makes it easy to take a hard look through your home, even room by room, to determine which electronics or facilities are draining your wallet of hard earned money.
Unlike traditional meters, which simply register a running total of energy used, smart meters can record half-hourly price and consumption data and provide automatic meter readings to your energy supplier.
It doesn’t cost you anything to have a smart meter installed – your energy supplier will do it without a charge, plus the Government is offering them out to all homes after pledging to install the meters nationwide two years ago.
Really, upgrading any piece of kit to the latest technology can help you save hundreds on your bills.
Upgrading to a smart thermostat, for example, could save you as much as £164 a year – it’ll connect your heating system to the internet so you can turn down temperatures on your phone while you’re out and about.
You will have to keep in mind potential upfront costs of installation which can typically range from £150-£250, but they will make a saving over the long term as you’re not wasting energy.
If you don’t necessarily need as much bright light somewhere like the bedroom you can upgrade to energy-saving light bulbs too, which could slash as much as £180 from your energy bills compared to older style bulbs.
An upgraded LED light bulb costs around £1.71 a year to run, which could take some of the pressure off the household budget.
Installing a new smart showerhead is a great way to reduce your energy bill and conserve water too.
You’ll be able to control the water pressure and set the exact temperature you want the water to run at which will stop you from wasting any excess energy, and it could save you up to £75 a year on your water and energy bills.
We pay for your stories!
Do you have a story for The Sun Online Money team?
