8 ways to reduce your electricity bill

There is never a bad time to reduce your expenses, however winter usually means the time is right to take a look at your household’s energy consumption and see where you could possibly cut back on usage to avoid being slugged with an enormous bill at the end of the winter season.

By adopting energy saving measures you can save yourself a bundle of money.

Whether it's adjusting your thermostat or turning off your appliances at the wall, just a couple of changes can make a significant difference.

Here are eight energy saving tricks to keep in mind if you are looking at reducing your next electricity bill.

  1. Limit your heating use

Keeping your house warm is the single most expensive thing that makes your bill go through the roof in winter. Look at some other ways of keeping yourself warm. Put on an extra layer of clothing, put on some warm socks or use a hot water bottle. Sometimes that’s just enough to keep you comfortable.

  1. Set your thermostat

Did you know that for every degree you increase that thermostat, you could be adding 10% to your electricity bill? Be smart about how you use your home heater. Setting your thermostat to 18-20 degrees should keep your home at a pleasant temperature. Closing off smaller rooms when they aren’t in use could also make a dramatic difference to cost. Don’t forget to shut your curtains too.

  1. Hot water

Hot water is the highest energy consuming source in the house all year round. Choosing to wash your clothes in cold water can keep your costs down. And dare I say it, having shorter showers will also help. Furthermore, don’t run the dishwasher with only half a load in it. These are just a few simple yet effective ways to reduce hot water usage cost.

  1. Clothes dryer

With the heater on in the home throughout winter, do you really need to use the dryer all that much? Placing your clothes in a heated room is a great way to save on dryer usage. Of course it’s not practical to do this with all your washing loads, but even doing it for every second or third load will make a significant difference.

  1. Turn off appliances

Turning off any unused appliances and devices whilst not in use will leave you with a few extra bucks in your pocket. Save even more energy by turning them off at the power point. Also, go room to room and see if there are any appliances that you really don’t use that often that can be switched off. Some examples could be the printer in your home office, the spare fridge that sits empty in the garage, even that game console that the kids only use on weekends. 

  1. Switch off the lights

This one doesn’t need much explanation. When you leave a room switch off the lights as you leave. It’s really quite simple. Tell the kids!!!

  1. Roof insulation

Insulation is definitely the most worthwhile way to improve the energy efficiency of your home. A fully insulated home can reduce your heating and cooling costs by approximately 40% in comparison to an uninsulated home.

  1. Compare

Shop around and compare energy offers. There are many energy providers out there with some great money saving deals just waiting for you to call. InfoChoice can help you do this offering a free energy comparison service for Australian households.

This update is not financial advice. This article is general news and information.

Home Loans: The comparison rates are based on a secured loan amount of $150,000 and a term of 25 years.

Personal Loans: The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless otherwise indicated in the product name with^, in which case, the comparison rate is based on a loan of $10,000 and a term of 3 years. The comparison rates are for unsecured personal loans only for the relevant amounts and terms. The comparison rates for car loans and secured personal loans are for secured loans unless indicated otherwise.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements

InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible.

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