Are You Paying Too Much For Your Electricity Supply?
With basic living costs like food going up all the time, we’re all looking to save money on electricity and other fuel bills. The good news is that there are several easy ways of doing this, including ones which don’t have to cost you a penny.
You may not realize, for example, that capping your electricity bill could save you money long-term, even if initially it costs more each month. What capping means is paying a slightly higher rate and in return the company agrees to not to put up the unit cost of your electricity for a fixed time of, say, up to two years.
Most heat escapes upwards, so make sure the money you’re spending on electricity isn’t literally going through the roof. New homes generally already have loft insulation, but if your building is older, fibreglass loft insulation is an inexpensive option.
Heat can also escape under doors and through windows, so make sure these are properly sealed up.
You may be eligible for an energy-saving or insulation grant, whether you own your property or rent it. The first port of call should be your council, since local authorities administer these grants.
It’s also worth thinking about changing some of your electrical appliances, and going for more energy-efficient ones. After all, domestic appliances account for nearly half the money you spend on electricity.
And, of course, energy-saving light bulbs can also help keep outgoings down, despite costing more to buy than regular bulbs. Glaringly obvious though it sounds, one of the best ways of saving money on electricity is simply to use less of it.
That means turning off everything you are not using, especially lights in empty rooms, and not leaving TVs, DVDs and stereos in standby mode. Consider air-drying clothes rather than using a power-guzzling tumble dryer, and only turn on the dishwasher when it’s fully stacked. This advice is ignored surprisingly often.
There are other things you can do to reduce your yearly spend on electricity. If you pay your bill by direct debit, for example, your supplier will probably be happy to give you a discount for doing so.
Direct debits work with companies estimating usage and taking a set amount from your bank account each month. If you feel the estimate you’ve been given is too high, contact your supplier and challenge it. Better still, present them with an accurate rather than an estimated reading, as suppliers’ estimates are often far too high.
Equally, many companies offer reduction for customers who manager their accounts online, without receiving any paper bills, so find out whether your provider does this.
Finally, you don’t have stay with your existing electricity supplier. Visit one of the many price comparison websites available, and see if you can get a cheaper deal elsewhere. Especially if you’ve not switched provider before, you can almost certainly shave money off your bills by doing so now.
And, of course, reducing consumption is good for the environment as well as your pocket. So make sure you’re not spending more on electricity than you need to.
Written by Gordon Parkes
Electricity suppliers can be compared easily online. Looking for different providers can save you money.
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