Lowering Your Energy Bill
If you’re like most energy consumers, you’re always looking to save money on energy bills without sacrificing comfort. There are many factors to consider, which means many ways to save on your monthly electric bill.
Factors such as geography, the size of your home and the number of people living in your house impact your monthly usage. A family in a northern climate can expect their electric bills to rise sharply during the frigid winters, with additional spikes during mid-summer. A larger family will naturally use more energy, and the larger a house is, the more energy heating and cooling systems will use to maintain comfortable living spaces throughout the home.
No matter where you live or the size of your family, there are small steps you can take that could add up to big savings on your energy bill.
Reduce your use
Reducing the amount of energy you use is a reliable and effective way you can lower the cost of your electric bill. Understanding how much energy your home is consuming is the first step toward consuming less. Check your monthly bill for helpful information on how much energy you use by month. This can help you understand seasonal changes and adjust your behavior to reduce your costs.
Not surprisingly, heating and cooling systems account for the majority of home energy consumption. According to the U.S. Energy Information Administration, nearly 50 percent of energy consumed by U.S. homes is for heating and cooling. It’s estimated the average homeowner can save up to 10% a year on heating and cooling by turning their thermostat back 7-10 degrees for eight hours a day. Installing a smart thermostat will allow you to “set it and forget it” and to personalize your home heating and cooling.
Large appliances, such as washers and dryers can also consume a lot of electricity, resulting in higher energy bills. Purchasing energy-efficient appliances and taking steps to operate them more efficiently, such as changing your air filters and lowering your water heating temperature, can have a big impact on your average electric bill.
More tips to lower your electric bill from the US Department of Energy
Percentages below indicate potential savings annually.
Pay less for energy
Shop for a Lower Rate
A straightforward way to save on your electric bill is to take advantage of energy choice and shop for an electricity plan with a lower cost per kilowatt hour (kwh) than your current rate. Energy choice means consumers can compare their utility’s electricity supply rates with rates offered by competitive energy suppliers like Energy Harbor.
Variable vs. Fixed Rate
Plans offer either fixed rates or variable rates. A fixed-rate plan guarantees a locked-in price per kilowatt hour for a specific period of time. This means consumers on a fixed-rate plan avoid energy market volatility. For consumers that value stability and long-term price protection, fixed-rate plans are helpful for accurate budgeting and planning. Variable-rate plans offer short-term flexibility, but are more affected by price changes in energy markets.
Budget billing is another way to control the cost of your average electric bill. Budget billing allows customers to pay the same amount each month for their monthly electric bill to smooth out the seasonal spikes and dips in energy use that occur during warmer or cooler months. Typically, this means paying a little more than your actual energy usage costs in months when you are using less so that you can lower your energy bills in months when your energy use is higher.
While budget billing makes budgeting for electricity easier, there are risks. Paying the same amount for your electric bill during months when you are using more energy could prevent you from realizing how much more energy you are actually using. Normally, a higher bill might cause you to reflect on your usage patterns or even indicate a problem. Without this monthly reminder, you could end up paying additional costs at the end of the year if you use more energy than what was projected. If you choose budget billing, be sure to review your bill each month to monitor your use.