With the cost of living on the increase, it's no surprise that householders are looking to save pounds wherever they can.

New research from uSwitch.com has revealed that the cost of energy has risen more than five times faster than average household income since 2004, increasing to £1,252 a year.

This is more than a tenth of the basic state pension for a couple living together, which is why 90 per cent of the population state energy bills as their top financial worry.

Ann Robinson, director of consumer policy at the price comparison site, commented: "This is the cold reality facing households today - in less than ten years our energy bills have rocketed by 140 per cent.

"The break-neck speed at which energy prices have sprinted upwards has caught many people unawares. Consumers are still playing catch-up."

While in the warmer months householders can save money by turning off their heating and not cooking as many warm meals, it is a different story when the temperature plummets in the winter.

"Going cold or without is a short-term and potentially harmful fix and not a long-term solution," argued Ms Robinson. "The fact is that consumers can control how much they spend on energy by making their homes more energy efficient."

Indeed, by switching to LED light bulbs, homeowners may be able to save significant amounts on their lighting bills. They waste virtually no electricity in generating heat, unlike traditional bulbs which expend a lot of energy in heat.

GU10 LED bulbs may also work out cheaper over the long run because they can last for years, meaning there is no need to spend time and money maintaining and replacing existing lights.

According to Industry Today, the cost over the lifespan of an LED light will be less than the bulb itself costs upfront.

"This is in stark contrast to traditional light sources, which are very expensive to use due to all the wasted energy. In fact, with standard lights you will generally spend about 500 times of the initial expense over the lifespan of the lights," the news source added.