Most of us by now have received our first power bill after recent increases in power supply tariffs came into effect on the 1st July. Planning ahead and family budgeting can be testing when we are constantly being hit with increases in costs.
Apart from turning power off at the wall or using candles for lighting, how can you save on power?
How to save on power
With SmartPower (from Synergy), there are four different periods of time when electricity costs vary; peak, off-peak, weekday shoulder and weekend shoulder. SmartPower rates are lower than the current standard residential A1 price between 9pm and 7am weekdays and all weekend. An establishment cost applies for existing homes and new homes.
Switch the future
Switch the Future is brought to you by the Future Energy Alliance – formed by Synergy, Western Power and Horizon Power. It is an energy efficiency campaign designed to help us all think about, and learn about, ways to reduce our energy consumption. By creating your own Switch the Future Plan, you’ll be able to join the growing number of people who are saving energy in their homes and reducing their power bills. Your personal Switch the Future Plan will give you practical steps you can take that could help lower the amount of electricity you use every day.
Replacing or upgrading a worn-out appliance can save your power consumption costs in the future. Old appliances generally are far less energy efficient compared to new appliances.
Consider the right type of appliance
When changing an appliance, make sure you choose the most energy-efficient type. Take for example a 106cm Plasma TV will use on average 322.0 kWh/annum of power with a 6 out of 10-star energy rating. An LCD (LED) TV the same size will use on average 210.0kWH/annum or power with a 7 to 8 out of 10-star energy rating.
One of the best ways to reduce your power bills is to use solar power. But upfront affordability is an issue for most people and it is a minefield trying to work out which company to choose from, the longevity of the panels, the efficiency of the panels, the payback period and the State Government incentives etc. Our clients that have taken advantage of solar tell us the best benefit is receiving a credit in the mail from the power company and not a bill.
Were you pleasantly or unpleasantly surprised by your recent power bill and what are you doing about it?
General Advice Disclaimer
This article contains general advice only, which has been prepared without taking into account the objectives, financial situation or needs of any person. You should, therefore, consider the appropriateness of the information in light of your own objectives, financial situation or needs and read all relevant Product Disclosure Statements before acting on the information. Whilst every care has been taken to ensure the accuracy of the material, Paradigm Strategic Planning or Sentry Advice Pty Ltd will not bear responsibility or liability for any action taken by any person, persons or organisation on the purported basis of information contained herein. Without limiting the generality of the foregoing, no person, persons or organisation should invest monies or take action on reliance of the material contained herein but instead should satisfy themselves independently of the appropriateness of such action.
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