Home Household appliances Martin Lewis reveals how to calculate the exact cost of appliances as energy prices soar

Martin Lewis reveals how to calculate the exact cost of appliances as energy prices soar

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Martin Lewis was on Good Morning Britain this morning as he tried to help people save money in the face of soaring energy costs

Martin Lewis has provided helpful advice for those concerned about rising energy bills.

The MoneySavingExpert was on Good Morning Britain this morning as he tried to help people save money amid soaring energy costs and the cost of living crisis.

During his appearance, Martin took to Twitter to explain how you can figure out how much a device is costing you.

He said: “How to calculate the energy cost of an appliance:

“1. Finding Your Power

“2. Know that 1000W is a Kilowatt (kW)

“3. You pay around 34p per kW per hour

“So a 100W (one tenth of a kW) appliance on for two hours is 3.4p per hour x 2 = 6.8p.”

Martin Lewis in Good Morning Britain

During his Good Morning Britain appearance this morning, Mr Lewis offered his thoughts on reports that the Government had ruled out running an energy-saving campaign.

He said: “The idea of ​​an information campaign is not that it is an attraction campaign that has to attract people.

“We need a push campaign that spreads and reaches people with the messages.

“There are a lot of questions I get, for example should I have the heating on all day, should you only turn it on when you need it.

“It’s a really interesting debate, in short, only turn it on when you need it, even if there are circumstances to have it on all day.

“There are a lot of things we could do. I have made a living from the fact that a lot of people don’t have this information and don’t find it easy to access.

“We’re absolutely, when we’re in a position where there’s a risk to energy security, which is a fancy way of saying there could be power outages this winter, not to go there- down and to say here are some simple things you can do to reduce your energy consumption that are good for your pocket, good for the environment, and good for society, I find it hard to see that as paternalistic.

Cost of living assistance for energy bills

Government support is available to help people pay their energy bills.

Households will start receiving money on their energy bills from October, with the reduction being made in six installments.

A reduction of £66 will be applied to energy bills in October and November, rising to £67 each month from December to March 2023.

The additional government support includes a one-off £650 cost-of-living payment for around eight million households on means-tested benefits.