How to save on your energy bills

Inflation might be easing, but living costs are still much higher than they were before. Your energy bills might also have increased over the past couple of years, with retail electricity prices increasing by around 35% in 2023-24.
 
During the colder months, your energy bills can add to your cost of living.  

However, there are some steps you can take to reduce your energy bills. Here are some hot tips to help you stay cosy during the colder months without burning through your energy budget.   

Shop around  

The first step is working out whether you’re paying more than you should. If you approach your energy provider, you might be able to negotiate a better deal.  

Jump on a comparison site like Compare the Market to see how your energy plan compares with that of competitors.   

As soon as you spot a better bargain, call your provider. Then negotiate and ask them to beat it.   

Jump on energy rebates   

Rebates are available at both federal and state level.  

In FY24 (the financial year ending 30 June 2024), the National Energy Bill Relief scheme delivered payments of up to $500 to 1.6 million households and around 300,000 small businesses. In FY25 (the financial year ending 30 June 2025), all households will receive $300 and all small businesses will receive $325 towards their energy bills.   

At state level, rebates vary, depending on where you live. They range from NSW’s Energy Savings Scheme, which rewards you for swapping to renewables, and Energy Bill Relief for Households, to the NT’s Electricity Concessions, which gives some people as much as $1,200 per year towards electricity bills.    

Check your state government’s website to find out what’s on offer in your area.  

Invest in energy-smart appliances   

Buying a new appliance might sound expensive. But, a short term investment could mean long term savings.   

After all, in an average household, gadgets use around 25% of energy.  

Choose appliances that are the right size for your needs (i.e. not too big) and run on energy-efficient (i.e. cheaper) technology.  

Cut consumption   

You don’t want to freeze this winter to save on bills. But, you can cut your energy consumption without going that far.   

Trying putting these hacks to work:   

Set your heater to the most efficient range (18-20 degrees).   

Keep reverse cycle air-conditioning running. Turning it off means it has to work hard to get back to where it was. 

Restrict heating to the rooms you use most. Dashing to a cold bathroom could be uncomfortable, but try to focus on the money you’re saving.  

Rug up! Pack on as many clothes as possible, and when you’re sitting still, throw on a blanket (or three).  

On clear days, help the sunshine pour in, by opening curtains. (It’s good for your mood and your wallet). After dark, draw curtains and close windows to keep the heat in.   

Hunt down cracks that let in draughts – and seal them up. Check the obvious (like doors and windows) and the not-so-obvious (like cracks or holes around built-in appliances and gaps in floorboards).   

Swap traditional light bulbs for LEDs.  

Run your washing machine only when you have a full load. Use cold water and peg your clothing on the line, instead of tossing it in the dryer.  

Smooth out your bill   

Many energy providers offer a payment method called “bill smoothing”, which helps turn the seasonal rollercoaster of energy costs into more of a gentle merry-go-round, with predictable, bite-sized payments.   

It works by estimating what your energy costs for the year, then spreading them over 12 months through equal, regular repayments.  

Not only does bill smoothing take the shock out of winter energy bills, it also makes budgeting easier. To find out if it’s possible, get in touch with your energy provider.  

Control what you can  

You can’t stop the season changing, nor living costs continuing to rise.   

But, hopefully, by putting our tips to work, you can have some control over your energy bills–and make cuts where possible this winter.