Households with radiators are being urged to spend 99p before January to help cut the cost of their energy bills.

More than seven million households in the UK are facing a hike in energy costs in the New Year when Ofgem’s new price cap takes effect from January 1. The energy regulator reviews and updates the price cap every three months, meaning changes take effect in January, April, July and October each year. Ofgem has confirmed a 0.2% rise to the price cap from January 1 meaning the average dual-fuel households in England, Scotland and Wales will pay about 28p more per month. For the average household paying by direct debit for gas and electricity, this means their overall bill will be £1,758 a year, up from the current £1,755 – an increase of £3 annually.

But the price cap only sets the maximum rate per unit and standing charge that customers can be charged by suppliers for their energy use – not the total bill, so those who use more energy ultimately pay more. To help reduce costs, energy experts are urging households to buy a radiator key, which are available for less than £1 at most DIY shops and online, to bleed their radiators before January, as this makes heating systems much more efficient and can result in hundreds of pounds worth of savings.

When air becomes trapped inside a radiator, hot water can’t circulate properly which results in radiators being warm at the and cold at the top, meaning they’re not heating your home as effectively.

Radiator bleeding keys release this trapped air that builds up to allow heat to be distributed more evenly and this in turn prevents boilers from having to work overtime.

It’s estimated that efficient radiators can save households up to 20% on their heating costs, so a typical household with a £1,755 dual fuel bill would make around £350 in savings.

Robert Quinton, energy expert at Construction Megastore, said: “Most people look straight to the boiler when thinking about energy efficiency, but your radiators are just as important. If they’re not working properly, you’re literally paying more to get less heat.”

He adds that “bleeding your radiators is one of those jobs people put off, but it’s so quick and easy, and can make a noticeable difference. For less than £1 and five minutes, you could save hundreds of pounds; it’s one of the best returns on investment you’ll make in your home.”

If your radiator feels warm at the bottom but cold at the top, your home feels colder than usual despite the heating being on, or you haven’t bled your radiators in the last 12 months, then this is a sign you should bleed them.

And spending a mere 99p to do this now before the new price cap takes effect in January could help you to save hundreds of pounds on your energy bills.

Lisa Cooper, Head of Product at Hillarys, added: “Bleeding a radiator means releasing this trapped air from your central heating system to improve its efficiency, allowing hot water to circulate properly and heat your home evenly.

“This can save you around £2.26 per week per radiator in energy savings during the colder months, which is roughly £36 to £45 saved per radiator over four months.

“In a typical household with 8-10 radiators, those savings can translate to as much as £450 saved on your energy bill over the winter.”