According to a recent report, energy prices are set to rise from July 1 20171. We have created a useful checklist to help your household run more efficiently leaving you with more dollars and cents to place into your savings or other financial commitments.
Read the fine print and consider peak and off-peak periods. How does this compare to your usage behaviour? If they are at odds, it may be time to shop around to find a plan that suits your needs.
According to the Australian Government, the two biggest sources of household energy consumption comes from hot water, heating, and cooling2.
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Smaller appliances can account for up to 33% of your power bills3. Power consumption can be lower than a comparable less efficient appliance.
According to the Australian Government, you could be losing up to 40% of heat through your windows in winter. Check for unsealed gaps where outside draughts can seep through.
Appliances in standby mode can account for up to 10% of your power bill4. Even a phone charger can draw power without a connected phone.
For example;
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This checklist could be the beginning of a series of new energy saving habits to help with your saving and other financial goals. The more you can save on power bills, the more you can distribute to other things like a house or car deposit, a trip overseas or pay off your credit card debt sooner.
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1 ABC News Breakfast, ‘Facebook Video: 10154920348658983’, June 2017
2 Australian Government, ‘Your Energy Savings: Reduce your energy bills’, Accessed: 30 June 2017
3 Australian Government, ‘Your Energy Savings: Reduce your energy bills’, Accessed: 30 June 2017
4 Australian Government, ‘Your Energy Savings: Reduce your energy bills’, Accessed: 30 June 2017