How to Reduce Your Electricity Costs

How to Reduce Your Electricity Costs


Let's be honest, we all want to keep our utility bills as low as we can. But how do you reduce your electricity bill, and is it even possible? Absolutely – here's what you need to know.

Why Electricity Costs More

Electricity bills are on the rise, but why? A few reasons.
  • Increasing network costs: There's a push towards upgrading the existing infrastructure, including wires and electricity poles, which costs money.
  • Population growth: As the population grows over time, the power grid needs to modernise to keep pace with increasing demand.
  • Customer usage rates: The majority of us have numerous electrical items around the house, which again puts a lot of pressure on the infrastructure.

In other words, the more power we use, the larger the electricity bill.

Reducing Your Power Bill

The easiest way to cut back on power costs? Reduce your energy consumption as much as possible. With that in mind, here are some practical tips for reducing your electricity bill.

1. Change Energy Providers
First, check to see if you can switch to a lower energy tariff. If you've been with the same supplier for a few years, there's a good chance that there's a cheaper deal available elsewhere.

2. Close Doors and Windows
Pull the doors and windows closed and conserve some heat. It works the opposite way, too – open the windows when it's warm so you don't need to turn on the air conditioning so soon.
The best part? This hack doesn't cost a thing!

3. Get Some Insulation
Okay, so not everyone can afford home insulation right now, but it's worth considering if you've got money to spare. Official estimates suggest that insulation reduces your heating bill by up to 50%.

4. Turn Off the Heating
Think about reducing the heating level so it's not on full power all the time. This can help you save money in the winter months, because you're using less energy.

5. Use Cold Wash Settings
Speaking of using less energy, it's more efficient to use cold water for your laundry than hot water. Unless it's a really soiled load, stick to a cooler setting.

6. Switch Out Old Lightbulbs
Did you know that it only costs $7 per quarter to run a LED lightbulb, whereas it costs $35 to run an incandescent bulb? Better change those bulbs!

7. Turn Off Standby Mode
Always turn appliances off at the wall when you're not using them, especially at night.

8. Install a Smart Energy Meter
Check with your supplier to see if they can supply a smart meter – this shows you where you're spending the most on electricity each day.

Conclusion

Reducing your electricity bill is easier than it seems at first glance. Even if smart meters or insulation don't work for your household, you can still make small but highly effective changes to your daily lifestyle.