Ways to Decrease Your Electricity Bill | Nifty Loans

Electricity bill high?
Nifty has the answers!

Why is my electricity bill so high?

Electricity bill higher than usual? Unsure why? Well, this is a fairly common problem, given that electricity usage is difficult to gauge in day-to-day life. Luckily, there are steps that you can take to diagnose exactly where and how you are using your electricity. If you have not made changes to your regular usage habits, there could be other factors that have influences your bill.

Five common reasons for irregular electricity bills

Though there are some fairly obvious reasons why your electricity bill fluctuates, there could be other obscure reasons that you could be oblivious to. Below, we have listed some of the most common reasons for irregular electricity bill increases:

Electricity rate and supplier charges:

Your electricity rate is the amount charged per killer-watt/hour (kWh) for the electricity you use. On top of this, supplier charges cover the cost of delivering the power to your premises. These tend to fluctuate with changes to fuel/generation costs, line maintenance and regulations. 

Seasonal fluctuation:

Even if you do not touch your air-con, your electricity bill may still increase during periods of higher and lower temperatures. This is because the overall demand for electricity is higher as people turn to their appliances to heat or cool their homes and offices. Higher demand for electricity drives up the fuel costs for supplies, which can lead to an increase in electricity prices. 


If you have guests staying over, whether this is long-term or short-term, the extra power they consume can cause your electricity bill to increase, sometimes significantly. This is especially true if you have an electric hot water system, where the additional hot water used in showers, dishwasher cycles and washing machines requires a substantial amount of electricity. 

Estimated readings:

To gauge your electricity usage, your provider takes a reading from the electricity meter located on your premises. Providers will often estimate your usage based on previous records to avoid making a reading every month. In some cases, especially if the last reading was higher than usual, the estimation could be much higher than your actual usage; which will cause your electricity bill to be more expensive. 

Old appliances: 

Old appliances are notorious for being incredibly energy inefficient. If you have a taken a few hand-me-downs over the years, they could be a significant contributor to why your electricity bill so so high. The appliances that suck the most power include; fridge/freezers, clothes driers, washing machines, dishwashers and electric ovens. If you are in the position to upgrade any of these, your electricity bill will thank you later. 

How to save on your electricity bill

Saving money on your electricity bill can be a simple matter of being more aware of your household electricity habits.

Here is a checklist that may help when trying to save money on your next electricity bill :

  • If you need to use the air-conditioner over summer, ensure you set it to the most energy-efficient temperature (which is 24°c in most cases). Save and beat the heat!
  • Avoid using energy-hungry appliances during peak times. Save your washing for the weekend!

  • Have the dynamics in your house changed? Are there more people using electricity? Consider asking them to contribute if they’re staying for a while. 
  • If your provider allows it, you could conduct meter readings yourself to avoid paying extra due to estimated figures. 
  • Consider investing some $ in updated appliances.

These are just a few simple steps you could take to save on your electricity bill. Though, if you’re looking for some serious savings, looking into solar power could be an option. With solar loans through Nifty, you could slash your electricity bill entirely. 

Can I borrow money to help with bills?

Generally, online lenders can approve personal loan applications for unexpected bills, depending on your financial circumstances. You could be eligible for up to $10,000 to help pay bills or fund your next holiday!

Nifty Loans can offer loans for unexpected bills from $300 to $5,000. The repayment period will depend on the amount you borrow. You can apply online in minutes, receive a fast outcome in 60 minutes* and if approved, have your cash in your pocket and ready to use in 60 seconds**. It’s possible with Nifty.

Am I eligible to get a loan?

To apply for a loan, you simply need to meet the following four requirements:

  1. You must be over 18 years of age
  2. Be an Australian citizen or permanent resident
  3. Receive a regular income for at least three months into a personal account
  4. Have an active mobile number and email address

If you meet the above requirements, then you are ready to apply for a loan! Scroll up and get started using our loan calculator!

What documents should I have handy?

None! To complete our loan application, you shouldn’t need to submit any physical paperwork. We access all the info we need to assess your application electrically with the following information:

  • Personal contact details (e.g. active mobile number and email address)
  • The reason for your loan
  • Internet banking details
  • MyGov information (if you receive Centrelink benefits)
  • Employment contact details

If you have these details handy when you apply, you’ll breeze through your application! Have questions about why we ask for certain information? Contact our friendly team; we’re always happy to help.

Ready to apply?

Great! Scroll up and use our loan calculator to select how much you wish to borrow and for how long. After you’re happy with your proposed loan terms, hit the ‘Apply Now’ button.

*Subject to when you submit your application

**Only available for NPP enabled bank accounts

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Finance Nifty