Watt are you waiting for?

 

• Research reveals that nearly nine in ten (87%) people who are taking part in an energy reward scheme say they are saving money on their bills
• Energy reward schemes are available to those with a smart meter and reward customers for shifting when they use energy at home with free or low-cost energy or other financial benefits
• From creatures of habit to a flexi-nation, families of Britain are switching up routines to become more flexible and save money (64%), energy (56%) and time (31%)
• Batch cooking (68%), laundry timings (30%) and using more efficient appliances (25%) are just three ways households are flexing to make savings
• Brits also now regularly switch up their choice of supermarket (32%), days in the office (13%) and workout routines (10%)
• Steph McGovern met Britain’s flexible families in a brand new mini-series to explore how much can be saved and how easy it is to do so

From roasts on a Sunday to spring cleans; as Brits, we’re creatures of habit, but new research reveals that the tide may be changing.

Whether it's working more flexible hours or switching up the supermarkets we shop at, the nation is charging ahead with a more flexible approach to their day-to-day lives. And of the top 10 ways we’re adapting our daily routine, eight are to do with how we use energy at home.

The research, by Smart Energy GB, showed that 40% of Brits have adapted their daily routines, from considering when they do ‘high energy-consuming’ tasks (23%), and the number of appliances in use at one time (24%) to the 7 in 10 who now swear by batch cooking.

Not only is the shift ignited by a desire to save money (64%), be more efficient (45%) and save energy (56%), but also to save time (31%). On average, Brits spend over half (58%) of their week at home, so being more flexible with our habits could make a real difference.

The good news is that energy reward schemes can suit our changing schedules and help us save money on bills. These flexible schemes can be easily accessed by households with a smart meter, and are designed to help reward customers for using energy at different times of the day.

They’re offered by many energy providers and encourage households to shift their energy usage away from peak hours, either by rewarding them for using less energy when demand is very high or by offering cheaper energy when demand is lower.

For those who are already switching up their habits at home, the financial impact is clear, with 87% of households saying they have saved money by being more flexible with their energy usage via energy reward schemes.

And people who aren’t currently making the most of their smart meter by being part of an energy reward scheme could reap the benefits if they opt into one, as nearly half (44%) are already trying to be flexible with their energy usage. 49% say they could flex when they do their laundry, or cook more efficiently (39%), and 86% already make sure they switch lights and appliances off when they don’t need to be on.

The proof is in the pounds and pence, as smart meter owners like Michael and Johnny from London save on their bills and get rewards and vouchers for using energy more flexibly - like doing all their ‘high energy-consuming’ tasks when the demand for power is low.

The couple spoke to Consumer Finance Expert Steph McGovern all about the benefits of their reward scheme, smart meter and their energy usage habits:
Michael said: ‘It’s super easy and straightforward. We get a notification via the app, I’ll put it in our diary to say electricity is going to be cheaper at this time, and then we’ll know to plan around it.” Johnny added: ‘We were already tracking our energy usage with our smart meter display, but now we know when to spend and when to save. When we get the notification it’s ‘go time’; we charge the car, put the dishwasher on and do some batch baking. We just run the house so much more efficiently.”

Steph McGovern, Consumer Finance Expert commented: "I always want to make sure that I’m helping people make their money work harder for them, and I’m conscious of doing the same in my own life. It can be easy to put off these admin jobs like getting a smart meter, but it’s clear that they open up lots of opportunities for people to save, like by giving them access to reward schemes.”

Steph also met housemates Felicia and Naiema from London, who are reward scheme converts. Felicia said: “If only I knew about reward schemes sooner I would have been the first person to sign up. I’m a discount queen!” Naiema added: “We already do things to try and save energy, like making sure wash loads are full, and cooking together, but we could definitely be more flexible and take advantage of a reward scheme.”

Victoria Bacon, Director at Smart Energy GB said: “The benefits of having a smart meter go beyond being able to track your energy usage via the in-home display or an app. They enable you to access schemes that reward you for being more flexible with your energy usage, which you can’t access with a traditional meter.  That can be especially helpful at this time of year when we’re spending a lot more on heating, hot water and lighting. It’s great to see millions of smart meter owners are benefiting and saving money on their bills.”