We understand how expensive it can be to be a homeowner. Between mortgages, property taxes and utilities, it feels like you’re forever paying bills.
As far as we are concerned, there is no secret way to avoid bills. However, as experienced electricians, we know a thing or two about how to lower your monthly electrical bill.
Where the Bulk of Your Energy Bill Comes From
There are a lot of elements that make up your electricity bill, but the largest (by far) is wholesale cost. The wholesale cost of electricity is what the utility is paying, and you pay a markup on top of that (retail cost).
Other components – transmission fees, meter fees, etc. – play a part in your electrical bill as well.
Cutting Your Costs
Now that we have reviewed how monthly utility bills are broken down, we can see that majority of the price comes from wholesale costs.
This refers to the price that the energy supplier has to pay for the gas and electricity they buy. The wholesale costs percentage also includes supply costs and the company’s profit margin.
From here, we are going to focus on how to cut the costs of the electricity portion of your utility bill. Below you will find three great methods to saving money monthly on your bill.
The largest portion of your electrical bill is likely to be from heating your home and water. Consider the following tips to help you save on your heating bills.
- Set your thermostat to off at hours of the night when everyone is asleep. To ensure you are warm, cover yourself in a thicker blanket or sleep in a comfortable sweater.
- Block any drafts that are coming into your house. Drafts make your furnace work harder to maintain the set temperature. This can result in higher electrical bills as well as the possibility of your furnace breaking down due to improper use! Lots of older homes in Montreal have a problem with drafts, so chances are that you can see a reduction by investing in new seals and weather stripping!
- Insulate your home as best as possible to help retain heat and maintain your homes current temperature. Although it requires an initial investment, it will save you money in the long run.
- Use a smart thermostat to automate and maximize energy efficiency. They can save you up to $100/year!
Turn Off Energy Sucking Devices
Nowadays it isn’t uncommon to have multiple TVs and computers within our homes. Simply putting them into standby mode will not prevent them from consuming electricity.
A great way to save money on your electrical bill is to ensure that all computers, TVs and gadgets are off when you are not using them. This includes the speakers, monitors, and printers attached to the computer!
Also, don’t charge your gadgets unnecessarily. For example, do not leave your laptop plugged in overnight if the battery is already full. Similarly, do not plug your phone in unless required. Theses devices may be small, but a sustained draw on energy over long periods of time will add up!
Turn Off The Lights!
When we were young our parents yelled at us for leaving the lights on, and for good reason. Leaving the lights on is a magnificent way to waste energy and make your energy bill unnecessarily high.
It’s 11am, do you have your lights on? If the sun’s shining, open the curtains and let some natural light in! By refraining from turning the lights on at unnecessary times, your bill could drop dramatically.
Are Your Bills Still High?
If after following the above advice and your bills are still through the roof, you could be experiencing an electrical issue. In such circumstances, we invite you to connect with us to book an electrical diagnostic: give us a call or send us an e-mail!