9 Ways to Save on Your Power Bills | What to Know

Ways to save electricity & make your power bills more affordable

Electricity bill too high? We know exactly how you feel. Most of us have become very aware of the cost of electricity since the privatisation of electrical companies. The staggering and ever-increasing cost of power bills in Australia has left many of us feeling a sense of dread when we see our power bill amongst the mail. In this article, we look at how electricity has become so expensive and how you can save on electric bill.  For quickest and fastest loan options, check out our resources. You can also apply for a personal loan, with Nifty Loans. 

How did things get this bad?

You may be wondering just how and why power bills got so unreasonable. Well, there did seem to be some reprieve for customers with the introduction of solar power. However, it appears that the energy companies are hungrier than ever to reclaim that lost revenue from customers, who are powerless – literally – to stop them.

Many customers have found the energy providers to be unengaged in customer satisfaction and make their systems so confusing that most customers give up.

The Choice Consumer Pulse survey found that there was a disconnection between Australian customers and energy companies. The cost of energy consistently rating as a top concern.

The problem may lie in the fact that retail electricity is up to three times higher than when the system was regulated by the government.

Privatising these essential services although brings instant cash flow to the government, brings long term pain for consumers with the companies allowed to charge without conscience.

9 ways to save on your power bills

1. Hope for the best, prepare for the worst!

Sometimes we’re not prepared for those unforeseeable bills. They can strike hard! You might be in between paychecks when your car breaks down on the way to picking up your kids from school. What now?

To avoid those sleepless nights working out how we can get out of these tricky situations, you might want to consider setting up a savings account. This account should be left to grow with interest and regularly topped up with any cash left over at the end of the month. It should also only be accessed during emergencies!

What sounds more worthwhile? Being able to get your car back on the road so your kids can go to school or buying that new pair of shoes you saw someone wearing on the train? It’s a no brainer really! It says it in the name, a savings account will save your life.

2. Getting financially fit

Your power bills will become less of a burden if you’re more aware of your financial situation. Learning how to budget can help you understand where you’re money goes and help you have money to spare. We all love some leftover spending cash at the end of each month, right?

Saving starts with changing your small wasteful habits. Over time you’ll start to notice the difference. You might want to re-consider the following:

3. Replace your lights with LEDs

Get the mood right at home with dimmer light switches. Who doesn’t like a bit of fung shui at home, perfect for those movie nights and dinner parties? LEDs use 75% less energy and can last up to 25 longer than a regular lightbulb. Remember to switch off your lights when you leave a room! Us Aussies are lucky enough to have a sun that shines throughout the year. So open your blinds or curtains in the morning and let the sunshine!

4. Take shorter showers

It may seem trivial, but watching how much time you spend in the shower can make a difference to your power bills! It’s easy to get lost in song whilst taking a shower. You find yourself deep in your thoughts and forget that the hot waters been running for 20-minutes. With a family at home, these costs can add up and get very costly!

To help you understand, look at it like this:

People in the household: 4
Average shower duration: 20 mins
Showers per person: 1
Total water used per day: 642 litres! (standard showerhead)
Cost of showers per week: $89

**The results in this table are merely for demonstrative purposes to illustrate the potential hot water cost for an Australian household.

You might want to consider switching to a low flow showerhead and not leaving taps running when shaving or brushing your teeth. Breaking these habits will reduce your water usage over the course of a year.

5. Do your dishes the right way

We might jump to conclusions when trying to work out how we could save on our power bills with dishwashing, but it’s not quite what you think! Dishwashers are a lifesaver and certainly make our lives much easier. However, they do require huge amounts of water to function. Until recently! Getting your hands on an energy star dishwasher could save you up to 19,000litres of water a year! That’s 19,000 litres of water you won’t have to worry about paying for and a huge thank you from the world and its resources!

6. Be smarter with your laundry

Stay up to date with your laundry appliances. The latest dirt removal technology uses less energy and runs more efficiently. An old dryer won’t be operating at peak performance and could be wasting your money!

One of Australia’s greatest inventions was the Hills Hoist, first made by World War II veteran, Lance Hill who on return from battle noticed his garden was looking rather cluttered, so he created the iconic clothesline from some old pipe. There’s a reason they stand out there in so many people’s garden around the world, so use them!

7. Upgrade your powerboard

Smart outlets can be one of the many ways to save electricity by reducing how much energy you’re using when you leave devices on standby. If you don’t want to invest in the latest tech, though it will inevitably make your life much easier, try to remember to switch off your devices at the wall before going to bed or when they’re not being used.

8. Save electricity online

Get the right energy plan for your home with the Australian Government’s Energy Made Easy service. They compare the electricity and gas retailers in your area and provide you with the support to easily switch from your existing provider and start saving right away.

9. Be more green

GreenPower is Australia’s Government initiative to help the nation transition to renewable energy. With most of our electricity coming from burning coal, GreenPower offer the following alternative solutions that produce no net greenhouse gas emissions:

  • Solar power
  • Wind turbines
  • Hydropower (water)
  • Geothermal
  • Biomass waste

If you’re an EnergyAustralia customer, the power is quite literally in your hands. You get to choose the amount of accredited green energy you’d like EnergyAustralia to buy on your behalf. Get in touch with EnergyAustralia to select a plan that helps flourish the renewable energy industry. Going green might ultimately have a minor impact on your power bills, but it will make a difference in protecting the world we live in! So act now!

Do you need help paying your power bills?

Is your electricity bill too high? How can we help paying bills for low-income families? Head to the ASIC website and follow their steps and tips on services that companies and the government provides.

Nifty Loans might be able to help

You might be sitting there with a puzzled look on your face holding a larger than usual loan for the electricity bill, wondering how you’re going to settle it. Here at Nifty, we understand that hefty bills can sometimes be thrown your way. That’s why we offer 100% online loans for unexpectedly high utility bills from $2,500 – $10,000.

So why wait, our application process can be completed in minutes. If you apply during our business hours, we’ll try to get back to you within the hour*. If your application is approved, we will send over a contract for you to sign. Once this transaction is complete, you could have the cash in your account on the same day (depending on which bank you’re registered with)!

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Personal Loan Details

Loan Amounts $5,000 – $15,000
Loan Terms 9 – 24 months
Starting Interest Rate (APR) 11.42% (Excellent Credit)
Starting Comparison Rate 14.49% (Excellent Credit)
Ceiling Interest Rate (APR) 21.24% (Average Credit)
Ceiling Comparison Rate 45.56% (Average Credit)
Type of rate Fixed Rate
Repayment options Weekly, Fortnightly, Monthly
Monthly Fee $0
Early repayment fee $0
Average turnaround 60 minutes*
Loan Options Unsecured & secured options

Credit criteria and terms and conditions apply. Representative example: based on a loan of $10,000 over 36 months a borrower with an excellent credit history can expect to pay a total of $12,389.76. WARNING: This comparison rate is valid only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Interest rates vary subject to a full credit assessment. This represents a comparison rate of 14.49% p.a. and includes all interest and fees included in your loan repayments over the life of your loan. For our personal loan product the APR starts from a minimum of 11.42% (14.49% comparison rate) with a maximum of 21.24% (45.56% comparison rate). The minimum loan term is 9 months and the maximum loan term is 24 months. For more details and examples visit our rates and fees page.