Time to read : 2 Minutes
This Is What Is Costing You A Fortune
Power bills in Australia are surging, in some places by as much as 18.3%.
The trouble is, this is just the start. Power shortages worldwide, brought on by the Russia-Ukraine war, Covid staff shortages, outages, higher energy generation costs and supply chain issues have all impacted the price of power.
Beware: It's been so bad that the Australian Electricity Market Operator (AEMO) has been keeping a lid on what retailers can charge us – for now at least. Meanwhile, wholesale costs are up a huge 141%.
💡We may not be able to stop the bills, but we can be clever with how we use energy.
Your three most expensive appliances...
Ducted reverse cycle air conditioner.
Hot water system.
Your fridge and freezer.
🧛🏻 Standby power – also known as vampire power. It accounts for 10% of your power bill. Ouch.
Okay, so here are some simple ways you can save yourself some money.
Keep your house cool by closing your blinds, doors and windows on hot days. If you must use your air conditioner, try not to turn it all the way up. Every degree lower is costing you about 10% more.
Take shorter showers; you'll be saving your money, water (10l a minute) and the planet at the same time.
Turn off your standby appliances or, use a standby power adaptor that will do it for you.
Replace your old globes with LED energy efficient ones. They last up to 10 times longer and use 75% less energy.
Hang your clothes on the line instead of using your dryer. It's also kinder on your gear, so you'll get to have them for longer. You could also save yourself about $132 a year.
This is a weird but true one; the more you densely pack into your freezer the more efficient it will be.
Last but not least – look for the stars! The more Energy Stars there are on the products you have the more cost effective they will be.
The bottom line
Energy prices are not going away any time soon. But with some sensible and easy swaps, you can save yourself a lot of money.
It's also worth comparing energy providers annually to make sure you are on the best deal possible and not locked in on an expensive plan.
Use an energy calculator to work out your costs, to help manage any possible bill shock.
Another great way to protect yourself is to invest in better insulation and look at installing solar panels on your roof – they can reduce your energy bills by up to 60%.
Financial Disclaimer:
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.
