Compare energy use: are you a big spender?
You may know how much energy your household uses each year, and at what cost. But have you any idea how that compares to other, similar homes?
Knowledge is power, and in this case, a power-saving: a US business called OPower (now owned by Oracle) found households could cut their energy bill by 3% just by seeing how their consumption compared with their neighbours.
This saving is based on the idea that knowing what peers are doing can lead to behavioural change. Another example is messaging encouraging guests to re-use towels in hotel rooms; psychologists have shown that if guests were informed others had re-used towels, then they were far more likely to do so themselves.
See how you compare
So, if you know your home energy consumption, compare it with people in households like yours in the table below and start saving!
Table data used with permission from Loop users and converted to annual costs based on the following prices: gas standing charge 27.2 p/day and unit cost 7.4 p/kWh; electricity standing charge 45.3 p/day and unit cost 28.3 p/kWh. All figures are for households with electricity and gas supplies.
The obvious problem with simple comparisons against your neighbours based on postcodes is that their domestic circumstances are likely to be different to yours. Uniquely, Loop is able to provide you with direct comparisons against other households like yours so we show you what good looks like. How else could you know how you're doing? Don't just keep up with your neighbours, beat them!
About the author
Bryn is one of Loop’s data scientists. As part of the data science team, he has developed models and algorithms that drive some of the more advanced features of our app. He has a PhD in maths, and his previous experience includes work in the Western Australian wholesale electricity and gas markets.
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