The power to save money

Turning down radiators will cut bills

Energy is an issue which affects us all.

From that first cup of tea in the morning to when we switch off the bedroom light at night we are all consumers of energy.

And though it's easy to shop around for cheaper deals these days, there are other ways to save even more money - and help the environment.

This week is Energy Efficiency Week, aimed at getting us all to think about how we could cut down the amount of energy we use.

POWER LUNCH All this week Working Lunch is looking at the business of energy. Subjects include: The economics of the electricity generating industry. How the gas given off at old coal mines is harnessed to produce energy. The future of the nuclear power industry.

We all know we all should be more energy efficient but how easy is it?

The good thing is that it can be as simple or as complex as you like.

The Centre For Alternative Technology in Machynlleth has been at the forefront of trying to persuade the public to live a more efficient life for many years.

Startling

Here they have loads of practical ways in which you can cut down on the amount of energy you need.

They have built several houses that look very ordinary on the outside but take a closer look and you see some rather startling differences.

One house, built in the 1970s, was the most highly insulated house of its type in Europe. It was so well made that it got too hot, even in winter - and that was without even turning the heating on!

You can also learn how to set up a simple wind turbine to make your own electricity or turn an old household radiator into a simple solar panel.

Simple measures

But not everyone wants to go that far. There is a whole host of simple measures that you can take to get results:

Turning your thermostat down by one degree centigrade could cut your heating bills by 10% - and save the UK £14m a week.

Switching off your television, video, DVD and digibox at the end of the day instead of leaving them on standby would save more than £3.5m a week.

Always turn lights off when you leave a room.

And next time you make a cup of tea, don't fill up the kettle - just boil the water you need.

None of those really requires a lot of effort.

But if you are prepared to give your home an energy overhaul, you can achieve much more.

Try to buy energy efficient appliances

"If all the cavity walls in UK homes were insulated, the financial saving could pay the energy bills of more than one million families for a year," says Phillip Sellwood, chief executive of the Energy Saving Trust.

Here are some other steps you could take:

A bit of DIY draughtproofing - round doors, windows and skirting boards - can make your home warmer and save on heating bills.

Each energy efficient light bulb you use can cut your lighting bill by £7 a year. And they can last up to 12 times longer, so need replacing less often.

And next time you need an new appliance, look for one with a good energy efficient rating - it could cost you 33% less to run.

The organisers of Energy Efficiency Week say the benefits are not just short-term.

If you want to sell your house, having energy-saving measures could be attractive to buyers.

"There are a growing number of products and ideas that are stylish, interesting and have been designed to have less of an impact on the environment," says Trewin Restorick, director of Global Action Plan.