Expert Tips for Cutting Down Your Electricity Bill With Power Plans

Last Updated:
July 21, 2023

Expert Tips for Cutting Down Your Electricity Bill With Power Plans

Energy bills aren't one-size-fits-all, and finding the right power plan can make all the difference in your household budget. From choosing a fixed rate to taking advantage of prepaid plans, these simple ways of using power plans to save on electricity can accumulate big-time annual savings!

Unplug unused devices or use smart power strips that automatically cut off the power. Unwanted phantom power can account for up to 10% of your bill month in, month out--yikes!

Look for Time-of-Use Rate Plans

The electric company in Arlington TX offers a time-of-use rate plan. It's a great option for customers looking to cut down their energy bills. With this rate plan, electricity is more expensive during certain hours. These hours are called peak hours.

The best way to save money with a time-of-use rate plan is by shifting your energy usage to times when electricity is cheaper, like late at night or early in the morning. This is possible because many appliances have scheduling functions that allow you to run them at a time of day when rates are low.

Utility companies use time-of-use rate plans because they help curb demand during peak hours. This reduces the strain on the power grid and allows them to sell electricity at a lower price. This also saves them money because producing electricity during high-demand periods costs more. That's why looking for these plans is important when shopping for electricity.

Turn Off Devices When You're Not Home

Many of us have a handful of electronic devices like computers, TVs, and gaming consoles that constantly draw energy even when turned off.

The best way to limit this is to unplug all of these items when you're done using them, but that can be a hassle. Instead, purchase smart power strips that automatically cut off all your devices' electricity when unused.

Another area where you can save is by putting your water heater on a timer and setting it to heat the water only when you're using it. This will reduce your hot water electricity usage by up to 12 percent. You can switch to LED lighting, which uses 90 percent less energy than incandescent bulbs. The long-term savings on this can be a big deal, especially for northern states with harsh winters.

Install Energy-Efficient Appliances

Many energy companies offer a free home energy audit, where they look at your house room by room to determine where you're wasting energy. The Department of Energy also provides instructions for your DIY home energy audit.

You can save money on your energy bills by switching to smart appliances and using them wisely. These efficient devices often cost more upfront, but they'll pay for themselves in savings over time. They also reduce the demand for energy on your utility grid, which cuts carbon dioxide and other greenhouse gas emissions that harm the environment and human health.

Keeping your windows and doors sealed can also help you reduce energy costs. Check for gaps and cracks that could let cold air leak during winter and hot air escape in summer. Adding caulking and weatherstripping can prevent this, saving you money on your electricity bill.

Another simple way to save on electricity bills is to unplug devices you're not using, like cable or satellite boxes, game consoles, space heaters, microwaves, and even your powered toothbrush. This "vampire" energy consumption can add up to 10% of your household's total electric use, so unplugging or putting them on power strips is one easy way to reduce waste.

Install a Smart Thermostat

Many homeowners need to make big changes around their houses to shave down energy costs. And while basic actions like turning off appliances when you're not home and using ceiling fans to circulate air can help, installing a smart thermostat is the best way to save money on your electric bill.

Smart thermostats give you more flexibility to control your heating and cooling usage than a standard programmable thermostat. Some even adjust the temperature based on occupancy and learn your habits over time to save you time and money.

For the smart thermostat installation process, having access to your home's wiring is crucial, and it might be helpful to have a basic understanding of electrical systems. However, considering the complexity and safety concerns, it's often best to consult with a professional electrician on the North Shore to ensure the setup is done correctly and safely.

Set a Schedule

While electricity usage is unavoidable, such as your refrigerator keeping food cool or your security system keeping your home safe, you can control how much you use using a power plan. Power plans give you control over your electricity rates and can save you money by shifting your usage to off-peak hours.

If you opt for a variable rate plan, be aware that the price of your energy will change each month as market prices rise and fall. This can mean you will pay more than expected if the energy demand is high, but your rates could drop if market prices are low.

If you're looking for a long-term plan, consider a fixed-rate plan. With a fixed-rate plan, your electricity rates will be locked in for the duration of your contract (12, 24, or 36 months). This provides stability and can help you budget for your energy needs. However, be mindful that you may need to pay an early termination fee if you cancel your plan before the term ends.

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