Identifying ways to lower your utility bills can have quite a dramatic effect on the cost of running a household. Whilst gas and electricity companies were quick to raise prices when wholesale prices were increasing, providers were not nearly as quick to reduce them when their costs started to head back in the opposite direction.
It can prove difficult to save money on electric because utility companies have a pack mentality; when one increases its prices, others follow suit and vice versa. It takes a provider to act separately to change the momentum, but this rarely happens because it undermines their potential to make profit.
Lower Your Utility Bill Through an Online Comparison Site
It is possible to save money on electric and gas by trawling through the different prices offered by energy providers and selecting the one offering the most competitive deal. An online comparison site or utility broker will perform an analysis of your energy usage and compare usage to all the other leading providers. Should a cheaper supplier be identified, your account can be transferred across.
Get a Dual Fuel Package
Buying your gas and electricity from the same provider will mean that the best deals are available. As with most companies, the more products and services you buy from them, the better the deal you are likely to be offered. The price comparison site, referred to above, can help greatly with the analytical process. Try to make the switch online to lower your utility bill.
Pay by Direct Debit
Making payment by direct debit is a lot easier, not to mention cheaper, for utility companies to administer. There is also evidence that suggests those that pay by direct debit are more reliable payers. For legitimate business reasons, this cost saving is regularly passed on to customers.
Install Loft and Wall Insulation
See if there are government grants available to help with the cost of installing loft and wall insulation. This helps to prevent heat loss so many households can save money on electric and gas. Double-glazing is also of assistance.
Lag Your Pipes
Pipe lagging is a specific type of insulation applied around water pipes. It retains heat inside the pipes – so it is beneficial for saving energy and preventing pipes from freezing in winter and bursting which can lead to expensive repairs. Lagging also prevents condensation from forming on cold pipes.
Control Hot Water Usage
Lower your utility bill by controlling how much hot water you use. This can be achieved by taking a shower instead of a bath, only using the dish washer when you have a full load or boiling as much water in the kettle as needed.
Do not Heat Rooms You Don’t Use
Most individuals spend their time in just one or two rooms yet heat their entire house. This is very wasteful. Just heat the room that you spend most of your time in.
It is possible to reduce your utility bill by employing a few of the methods alluded to above. Try to set aside a set amount each month so that you have adequate financial provision for when your quarterly bill arrives.