Energy Bills Are Expected To Rise Again This Winter: Meet The Startups Helping You Cut Costs

According to The BBC, gas and electricity prices are set to rise by 2% this winter, costing an extra £35 a year for already tight households.

This news comes after energy regulator Ofgem announced a new energy cap, which will kick in this October. What this means is that households will now be charged more per unit of energy that they use – which is likely to increase their bill overall.

 

Why Is The Cost Of Energy Increasing In The UK?

 

Despite Labour promising to cut energy bills, they only seem to be going up. But why is that?

Well, according to The Guardian, it pretty much comes down to the UK’s reliance on gas. These prices peaked in 2022 after Russia invaded Ukraine. The disruption in supply and sanctions placed on Russian gas companies, alongside economic uncertainty post-COVID, meant that prices of gas soared. Whilst the price has come down since the 2022 peak, it is still higher than it was pre-pandemic.

But with reports that inflation in the UK was up again in July, and further reports that the cost of items like eggs and butter are becoming even more expensive, this is a tough time for many families and businesses that are already feeling the squeeze.

 

What Startup Exist To Help Cut Energy Costs?

 

Whilst the price of energy may be increasing, people still have control over how much energy they use. The good news is, a number of tech and startups exist to help households lower their energy costs.

Here are some of our favourites:

 

Voltaware

 

 

Voltaware uses AI to track the energy usage of each appliance in a home. Through this, users can see exactly which appliances are costing the most to run, allowing them to make informed decisions about their energy usage.

By remotely tracking home activity through real-time monitoring, Voltaware works with smart meters and sensors to make it easier than ever for households to be more energy efficient.

 

 

Sunsave

 

 

The most efficient way to lower energy bills is to find ways to create and store energy at home. Enter Sunsave, a company that provides users with a ‘solar subscription’ – helping them install solar panels on their home, without paying anything upfront.

From there, the subscription costs just £69 per month, including full replacements, monitoring and insurance. That way, households can more easily afford to go green and reduce reliance on the grid.

 

Bidgely

 

 

Bidgely is another company that uses AI to help businesses and families monitor their energy usage at home. The company is able to provide insights into energy usage without needing any hardware sensors – making it easy to set up and use.

This way, more people can understand how to cut costs in their home, without any guesswork.

 

ev.energy

 

 

When energy prices go up, it doesn’t just affect how a house runs. For those with an EV, it can also make running a car more expensive. Ev.energy uses a smart charging software that allows cars to take advantage of charging times when energy is cheaper. This helps to make charging more affordable and also means the grid isn’t overwhelmed at peak times.

Not only is ev.energy helping people lower their monthly bills, it also improves their carbon footprint too.

 

Powervault

 

 

For those that want to stop relying on the grid and install sustainable energy systems in their homes, Powervault is a solar and battery storage system that allows homes to store more for less.

Whilst the initial investment is sizable, Powervault allows homes to become more self-sustaining, storing 90% more energy than other solar batteries on the market.

 

UrbanChain

 

 

UrbanChain thinks differently about how people buy and sell energy. For those that need energy, users get it energy directly from renewable generators – giving them competitive prices.

For those that generate energy, such as homes with solar panels, UrbanChain provides a platform to sell renewable energy directly to those that need it. That way, both sides are able to escape the wholesale energy market and the high prices that come with it.