Ever stopped to wonder why it is that your energy bill might be so high? Or have you perhaps considered not why it’s so high, but what could be causing it to be so high?
It might not be the lights you forget to turn off - although it helps to remember. It might not be the device you stream your favourite shows on every night (but everything in moderation).
No. Most likely what’s guzzling up all that energy are your home appliances. These account for 30%^ of home energy use, so it's hardly surprising.
We've crunched the numbers and could be saving around $758* a year off your energy bill by both switching your energy provider and your appliances.
Should I upgrade to energy efficient appliances?
If you’re planning on getting a new washing machine or used tumble dryer or fridge and are worried about it burning through your bank balance, switching to energy efficient appliances can help you save.
White goods such as fridges still consume energy even when they’re not being used, as they sit on standby or are constantly running.
Leaving appliances on standby (when the light is on) can add up to 7% or $170^^ to your electricity bill.
The government’s Energy Rating calculator is a good place to compare products.
If your appliances are burning too much energy, they’re burning holes in your pocket as well.
You could save money in the long term by buying a slightly more expensive model when you upgrade your white goods.
The quickest way to save: downsize your energy bill
It’s not practical - or good for your savings - to change all the appliances in your home. So start by seeing where you can save on your energy bills.
These bills are a major household expense so you can save hundreds by downsizing your energy consumption.
Earlier this year, the Australian Energy Regulator noted households could save up to $443# on electricity bills by shopping around.
The bottom line
If you want to see how you could be saving on energy bills, it only takes five minutes to compare and switch energy plans.
The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions.
# Australian Energy Regulator, AER sets energy price cap to protect consumers, written 26th May 2022.
^Department of Industry, Science, Energy and Resources, Reduce your energy bills, accessed 21st July 2022.
^^Energy and Water Ombudsman, Ways to reduce your energy bills, accessed 10th August 2022.
*Savings number based on Australian Energy Regulator savings number ($443) and Energy and Water Ombudsman savings number ($315)
