5 Ways To Save Electricity When Rates Are Rising
- Written by: Daily Bulletin
After 8 consecutive rate rises in as many months, Australians are feeling the strain on their household budget. Energy bills skyrocketed a massive 15% in the September quarter of 2022, and there are no signs of them slowing down in 2023.
If you are one of the many households struggling to keep afloat in the energy crisis, a comparison tool like CheapBIlls could be the answer.
We’ve compiled our Top 5 tips to help you save money on your gas and electricity bills.
1. Compare Energy Bills
Many people are surprised to learn that they are paying too much for their energy. Most electricity and gas plans have a 12-month benefit period. This means that while you might sign up for a great deal, after a year you are transferred to your retailer's standing offer.
The only way to make sure you are getting the cheapest electricity and gas for your home is to compare electricity plans every 12 months. Moving electricity connections to a better deal can save you hundreds of dollars every year.
You should look for:
- Low rates
- Off-peak tariffs
- Solar feed-in tariffs
- Electricity and gas bundles
- Sign-up credits, special offers and discounts
- Fixed-rate vs variable rate plans
With over 114 energy retailers in the market, and so much to consider, a comparison service can save you a lot of time and money. The experts at CheapBIlls will compare electricity and gas plans from a panel of Australia’s leading providers to find a money-saving option for your unique energy needs and then arrange a new electricity connection for you.
CheapBills has been helping Australians save on their bills since 2013. We have partnered with some of Australia’s leading energy, internet and finance companies to help you save. If you are moving home electricity, our sister company, Move-In Connect, can make moving day a breeze with our bill comparison and utilities moving services.
When you compare with CheapBills, you can also help to support fundraising through icause - Australia’s newest crowdfunding platform. When you switch providers with CheapBills, we will make a donation to your chosen icause campaign, so you can save on your bills while supporting a worthy cause.
2. Be Energy Efficient
One of the best ways to save on the cost of energy is to use less of it. While this might sound easy in theory, in reality, it can take a little more effort. With the right approach and a little bit of planning, you can drastically reduce your energy usage.
These 5 easy to implement activities are a great place to start:
- Insulate floors, doors and windows (if you are renting, use temporary measures such as door snakes and rugs)
- Use energy-efficient appliances
- Turn off lights and power points when not in use
- Adjust the thermostat to the optimal temperature
- Clean or replace air conditioning filters
Making these changes to your home and energy habits will reduce how much you pay each quarter for your utility bills.
3. Use energy-saving devices
It’s 2023 so there’s a device for everything! Turn your home into a smart home and make it do the hard work for you with some energy-saving devices. Some of our favourites include:
- Motion detectors
- Smart lights
- Smart thermostats
- Master powerboards
- Smart windows
- Solar batteries
These devices will help you to minimise the amount of energy you use from the grid, which can save you hundreds of dollars every year on your bill.
4. Generate solar power
Residential PV solar panels are a great investment to cut your energy costs in the long term - you could even end up earning money for the electricity you generate if it exceeds how much you use.
Many people are put off solar energy by the big upfront cost. A solar system will cost between $2,500 and $9,000 depending on the size and the rebates you are entitled to.
Most installers, and many energy companies, offer incentives such as interest-free loans to help make solar panels available to more people. For the average household, the savings on your energy bill will help to offset the repayments. In addition, look for an energy plan with a high solar feed-in tariff (FiT) to maximise how much you earn from your excess electricity.
5. Track your usage
Being aware of how much energy each of your activities uses can help you to make better energy-saving decisions. If you have a smart meter installed you will be able to see your usage in real-time and identify see which times of the day you are spending the most on electricity and gas.
If you notice that you consume a lot of power during expensive peak hours you can try to adjust your activities to make the most of cheaper off-peak hours. This might include running your dishwasher and washing machine overnight and putting your hot water heater on a timer.
Your retailer will have an app to help you track your usage, which might include energy-saving incentives, such as Origin Energy’s Spike Hours. Spike Hours reward you for meeting your energy-saving goals with bonus points that you can redeem for PayPal cash or gift cards for a range of major retailers including Coles-Myer, Bunnings, JB Hi-Fi and many more.
If you still have an analogue meter, you will need to upgrade your electricity connection to a smart meter to be able to see your habits in real-time.
Conclusion
Even in the face of record-high energy prices, there are plenty of things you can do to proactively reduce your energy bills.
- Compare your bills
- Be energy efficient
- Use energy-saving devices
- Generate your own solar power
- Track your usage
Daily Bulletin
