Electricity can be produced from several sources, but in the UK this is mainly gas and coal. This means not only that large amounts of carbon dioxide are released when these fuels are burned to make electricity; but also that their cost varies depending on the cost of the raw materials, among other factors.
Between 2005 and 2009 the UK price of domestic electricity nearly doubled from 7p per unit1 (a kilowatt hour or kWh) to over 13p per unit. That’s an average increase of 17% for each year.
If this very high rate of electricity inflation were to continue, a unit would cost around 35p by 2015 and 75p by 2020. Whilst this rate of price increase seems unlikely at the moment it is almost certain that electricity will be much more expensive in the future.
So, saving 19kWh a week by moving to a super-efficient energy fridge-freezer from an old inefficient one, as in our case study, could save:
- £1.33 a week at 2005 electricity prices (£69/yr)
- £2.50 a week at 2009 prices (£137/yr)
- £6.44 a week at 2015 prices (£335/yr) if they continue to rise as they did between 2005 and 2009
To see just how much you could save, try out our savings calculator.
To find the most energy efficient appliances have a look at our energy labelling guide.
1 DECC, Quarterly Energy Prices 2010 Table 5.5.1 Domestic electricity prices in the EU and the G7 countries