Being an adult has many great benefits, however it also comes with responsibility to earn and save money. One way to make more is to save more, therefore reviewing your expenses, especially your electricity bill always helps.
So how can one save more on their energy bill costs?
In most cases, high energy bills occur because of three main reasons-
- Actual high consumption
- Billing issue
- Some issue with solar PV panel
Here’s what you can do about it-
Appliances such as air conditioners and water heaters are major contributors to high energy bills. How old are your appliances? Usually, as the appliances get older, their efficiency decreases.
To avoid a sky-high bill, timely replace your old appliances with newer, efficient models. You can easily determine the efficiency of any appliance by checking its star rating. Higher the rating, the better will be the appliance.
You can take other steps to ensure efficiency. Proper insulation and draft proofing will allow you to use less air conditioning. Further, split air conditioners are more efficient than ducted air conditioners.
For water heaters, you should check for any leaks and reduce the set-point temperature to save energy.
The Australian Energy Regulator (AER) requires your energy provider to do a physical reading of your meter, at least once a year. This results in your provider sending you an estimated bill instead of your actual bill.
You can distinguish this bill by spotting an “E” next to the meter readings. Being estimated over a few periods, this estimated bill can turn out to be unexpectedly high.
If this is the case, check your estimated bill against the actual meter. If you observe a considerable difference, contact your electricity provider and get it rectified.
You can also keep a check by taking your own meter reading or switching to a smart meter to do it for you.
Did you switch to a new electricity plan or provider for an attractive discount? If your bills come out astonishingly high, check the validity of your discounted plan. Chances are that the discounted plan came to an end and your provider switched you to a standard plan with a higher rate.
Electricity rates are constantly fluctuating due to various factors impacting the energy market. From wholesale costs to the weather, there are many components which determine the price rate.
If you’ve never changed your electricity provider or not switched for a while, your standard rates are likely to go up. Look out for cost-effective plans or a new electricity provider. The energy market is highly competitive, you can certainly get a bigger bang for your buck.
If you’re looking for a reliable yet cheap electricity provider in Illawarra and greater Sydney regions of New South Wales, check out Endeavour Energy.
Time of use
You can significantly reduce your electricity bills by being conscious of your peak hour energy usage. Try to use high-power appliances during non-peak hours when the rates are typically lower.
Time of the year
The weather plays a key role in ascertaining your electricity bills. When the demand is higher, the prices go up.
Consume energy smartly to keep your energy bill consistent and predictable. Invest in high-quality insulation to retain heat during winters and vice-versa.
Solar panels are an excellent way to switch to renewable energy and reduce your carbon footprint. However, if not executed properly, they can generate high energy bills instead of reducing them.
You should be aware of the capabilities of your solar PV panels. To make this more convenient, you can install a solar energy monitor to keep track of production and usage.
Even though solar panels require minimum maintenance, look out for any faulty inverter or panels, connection issues and so on. If you are facing any such problems, get your system checked and repaired.
Hopefully, these tips help you discover any faults causing a high electricity bill. If your retailer has hiked up to an outrageous rate, it’s time to look for a new one.