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How to save $296 with one move

Lucy Dean
·2-min read
Hands holding wallet with australian dollars and make a payment - coronavirus finance struggle concept
Are you making similar moves? Image: Getty

Millions of Australian households have scrutinised their electricity bills and formed plans to save over summer’s hottest months, with some set to save nearly $300.

Households in NSW, South Australia, Victoria and Queensland could save $296 by switching their electricity plan, new analysis from Finder revealed on Tuesday.

“If you haven’t switched electricity providers in the last few years, you may be paying too much,” Finder energy expert Graham Cooke said.

“Use your current electricity bill to compare providers based on your usage.”

How else can I save on my energy bill in summer?

While only one-in-10 households plan on switching their provider, more than half, or 5 million households, are keen to reduce their bills.

Most households are choosing to cut back on their aircon usage, with the average household coughing up $305 to power their home cooler in summer.

Cooke said while it’s not necessary to switch it off all summer, the key is to use it economically.

“Don’t run your aircon overnight and make sure to close the house up to keep the cool air in and the hot air out,” he said.

“The optimal temperature to save you money and still stay comfortable is 24-25 degrees celsius. Changing the setting should be your first option.”

Another option for those with a pool is to change the amount of time they’re running the pump for.

Running a pool pump can add an extra $300 to a summer bill. However, it’s important to ensure you still meet the pool health standards by running it for at least the minimum amount.

Nearly one-in-10 Australians are also considering switching out their work situation to take advantage of their office’s facilities, while others plan to simply use their fan more.

“We’re entering the most expensive time of year so now is the time to look for ways to tighten the purse strings,” Cooke said.

“When it comes to your energy bills, there’s always money to be saved. Whether you cut back on bad habits or switch to a better deal, a few easy changes can help keep money in your pocket.”

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