How much are you spending on your power bills in Canberra? Are you spending more than your neighbour?
You could be if your astute neighbour already understands their power bill and has taken steps to reduce it. The good news is that you can become just as astute. Read on to find out how to read your electric bill and save on the cost of power.
Service Fees
The first piece in the puzzle that makes up the cost of power is the service fees. These set fees are determined by your service provider and everybody pretty much pays the same amount.
Because of government-regulated pricing, there is little competition among service providers. Even so, they will occasionally run promotions to encourage people to make the switch. You can take advantage of this and bring your service charge down for however long the promotion is applicable.
Usage Charges
The next piece of the puzzle is the usage charges. Your provider keeps track of how much electricity you use and charges you a certain price per kWh.
These charges get confusing quickly because the price per kWh can change. In fact, most providers offer lower prices during off-peak hours. This means the price varies depending on what time of day you use the electricity.
Tips to Lower Your Electric Bill
Don’t get discouraged, though. There are plenty of ways you can make your electric bill more accessible. Let’s look at a few.
Off-Peak Rates
We already mentioned that the charge per kWh hour fluctuates throughout the day. Find out when the off-peak rates are in effect and try to use your appliances during those times. You can even set your hot water tank on a timer so it will only kick on when the rates are lower.
Use a Thermostat
Toasty homes in the winter are nice but if you have electric heat, your bill shoots sky-high. Avoid this by making use of your thermostat. Turn down the heat at night and when you’re not home to avoid overusing your furnace. You can even install a smart thermostat and control it from your phone!
Button Up Your Home
Inspect your home for cracks or drafty windows as the weather starts to cool. Simply caulking holes and installing weatherstripping can help reduce the heat loss considerably.
Another trick is to close your drapes at night so less heat is lost through the windows. You can also close your drapes against the hot sun in summer.
Use Your Appliances Correctly
Unless you have dinosaurs in your home, your dishwasher, washing machine, and other big appliances will have an eco mode that helps you to use less electricity. Take advantage of it for significant savings over the course of a year.
Also, only run your dishwasher when it is full and use cold water for most of your clothes washing. Bonus points if you try to run these appliances during off-peak hours.
Watch Your Power Bills Fall
It doesn’t take as much as you might think to bring your energy bills down to a more manageable level. Try out some of these tips and see what happens!