Are you unhappy with your energy bill? Maybe you’ve noticed that your electric bill is higher than normal, or maybe you’re just looking for ways to save money on your monthly statement.
If so, you’re not alone. The electric bill can take up a good chunk of your monthly budgets. Any money that can be saved on this bill means more money in your pocket.
The good news is that there are some simple ways to save money on your electric bill. If that’s something that interests you (and it should!), read on for the complete guide on how to lower your monthly energy bill.
Why Is My Electric Bill So High Lately?
Have you noticed an increase in your monthly energy bill recently? Energy prices can fluctuate for various reasons, but here are the most likely causes of your higher electricity bill.
Natural gas prices have jumped significantly in 2022. In December of 2021, the benchmark price for natural gas in the United States, called the Henry Hub spot price, was $3.76 per million BTU. As of mid-April 2022, the Henry Hub spot price has practically doubled to $7.49 per million BTU.
There are a number of reasons for this jump in the cost of natural gas, but we can boil them down to two major causes: the conflict in Ukraine and cold weather.
The war in Ukraine has encouraged European countries to seek natural gas from countries other than Russia. This means that American gas producers are sending more natural gas to Europe in the form of liquefied natural gas (LNG). That increased demand for U.S. LNG has helped drive prices up.
Cold weather can also mean higher natural gas prices, as Americans continue to crank thermostats up and use more natural gas for heating. Lingering winter weather can therefore lead to higher natural gas prices, and a higher monthly energy bill for Americans across the country.
Natural gas is used to both heat homes and to generate electricity, so higher natural gas prices means both higher heating bills and higher electricity bills.
Now that we know why electricity bills are rising, let’s dig in to see what we can do about them.
What Can You Do to Lower Your Electric Bill?
There’s not much the average American can do to bring down the cost of electricity, but that doesn’t mean we’re helpless to save money on our own electric bill. If you’re unhappy with your energy bill, there are a number of simple steps you can take to reduce the amount of electricity you use each month and to find the best electricity rate available in your area.
Reduce Your Energy Usage to Save Money
The easiest way to save on your electric bill is to use less electricity. There are many ways to do this, but we’ll go through the most common (and simplest) methods for reducing your energy use to help bring your energy costs down.
Invest in Energy-Efficient Appliances
Appliances — think your refrigerator, your washing machine, your dryer, your hot water heater, and your HVAC system — are the biggest energy hogs in your house. The more energy-efficient these machines are, the more money you’ll save on your utility bills each month.
Newer appliances tend to be more energy-efficient than old appliances, and many advertise themselves as such. However, if you’re in the market for a new appliance, pay special attention to the actual energy consumption of the products you’re comparing.
ENERGY STAR appliances are certified by the federal government to use less energy. If you see an ENERGY STAR tag on an appliance, you know that you’re looking at a product that can lower your monthly electricity usage and save you a lot of money in the long run.
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Change Your Lightbulbs
Changing out your old incandescent lightbulbs and replacing them with more efficient lighting is an easy energy-saving tip that you can knock out in a few minutes.
Incandescent bulbs use more energy than newer alternatives like LED bulbs or compact fluorescent lightbulbs (CFLs). When you think about it, lighting is one of those parts of our houses that we use all the time, so switching to a more energy-efficient lighting system like CFLs or LED lighting can really help you save energy (and money).
Get Smart About Heating and Cooling Your Home
HVAC systems are one of the biggest consumers of electricity in our houses, so they’re naturally a good place to look when trying to reduce that monthly energy bill.
Modern technology is helping Americans heat and cool their homes more efficiently, but you need to take advantage of these smart innovations to start saving money. Consider investing in a programmable thermostat that can turn heating or cooling off while you’re not in the house. Smart thermostats can allow you to adjust temperature settings from your mobile device, or use timers to help make sure you’re only using your air conditioner or heating when you actually need to.
Getting smart with a programmable thermostat isn’t the only way to save on air conditioning costs, though. If you have drafts coming from any of your exterior doors or windows, head to your local hardware store to pick up some weather stripping — thin rubber material you can attach to the sides of windows or doors. Weather stripping is relatively inexpensive, and it can help seal those cracks where wintry cold air can get in.
Finally, insulation is a great way to help keep your house cooler in the summer and warmer in the winter. Properly insulated walls and attics lose less heat in the winter and help keep cold air inside during warmer months. If you have single-pane windows, consider replacing them with double- or even triple-pane windows, which provide much better insulation (and will save you money in the long run).
With some minor upgrades to your HVAC system, your thermostat, or your home’s windows, doors, and walls, you can start to see major cuts in both your monthly heating costs and cooling costs.
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Get an Energy Audit
For many homeowners, there simply isn’t enough time in the day to get to all of the home improvement projects that need doing. If that sounds like you, then consider setting up an energy audit for your home.
During an energy audit, a trained professional or team of professionals will come to your home or apartment and analyze all of the different ways that you can help reduce your energy usage.
At the end of the energy audit you’ll be provided with a short list of the best ways to help lower your monthly energy bill. This is a great way to figure out the most efficient way to cut electricity use in your home.
Get Smart About Washing and Drying Your Clothes
Your washer and dryer are both using up a lot of electricity every month. By running only full loads of laundry, or by using cold water cycles in your washer, you can reduce the amount of power you need to wash clothes each month.
And when it comes to drying your clothes, consider letting them air dry on a line outside, weather permitting, or on a drying rack indoors (you’ll need good airflow for this indoor option to work).
If letting your clothes air dry isn’t an option, make sure you’re cleaning the lint out of your dryer on a regular basis. This will allow better air flow for the dryer, meaning your clothes will get dry faster, saving you energy, time, and money.
Slay Your ‘Energy Vampires’
Many of us aren’t aware that a lot of our electronics are using energy — and costing us money — even when they’re not in use! Electronic devices that do this are sometimes called “energy vampires,” and they’re one reason why your electric bill might be higher than it should be.
Televisions, computers, appliances, and charging cords are the most common (and most voracious) energy vampires. Chances are you have all of the above in your home right now.
To solve your energy vampire problem, try plugging your devices into power strips that you can turn off with a flick of a switch when you’re not using them. You can also make it a habit to start unplugging devices when they’re fully charged or not being used.
If you’re interested in learning more about the energy vampires living in your home, be sure to read this article to learn how to solve this problem.
Shop Around to Find a Better Energy Rate
There’s clearly a lot you can do to make your home more energy-efficient, but there’s another way to help reduce your monthly electric bill. You should also check to see what your options are for energy rates.
The number of options you have is going to depend on where you live. In most of the country, you’ll likely only have one option for your utility company, and you might not have many different options for energy plans from that provider. Still, it’s worth calling or checking the website of your local utility company to see if there are any options for lowering your monthly rate.
If you live in a part of the country with a deregulated energy market — like Texas — then you’re in luck! In these service areas, you’ll not only have a variety of utility companies to choose from, you’ll also be able to select from a number of different energy plans.
To find the best Texas energy plan for your needs, you’ll want to visit the website PowertoChoose.org. Simply enter your zip code into that website and you’ll be provided with all of the different utility companies and energy plans available to you.
From there, you can pick the perfect plan (and the lowest rate) that meets your household needs. This is an important decision, so be sure to read our guide on how to pick the best electricity provider and plan.
Keep in mind that the utility company you choose can be just as important as your energy plan. Tara Energy, Amigo Energy, and Just Energy are three excellent electricity providers that have cost-effective plans, top-rate customer service, and a reputation for saving their customers money on their electric bills.
If You’re Unhappy With Energy Bills, It’s Time to Start Saving
So there you have it: You now know all about why your electric bill seems to have been creeping up lately.
If you’ve been unhappy with energy bills recently, you’re not alone. For many of us, our electric bills are one of the biggest slices of the pie that is our monthly budget. When energy prices rise, that slice grows, and our lives get harder. That’s why it’s so important to do everything we can to save on our electric bill.
You now have all the information you need to do just that: Start saving!
If you’re interested in reading more articles like this one, or are curious about other energy topics, check out the Tara Energy blog.
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