How to save up to R15,000 a year on your electricity bill
Cash-strapped consumers will need to prepare for hikes in the price of electricity from 1 July as the impact of Eskom increases take effect at a municipal level.
From 1 April 2021, the National Energy Regulator of South Africa (NERSA) approved Eskom’s allowable revenue from standard tariff customers to be increased by 15.06% for Eskom direct customers.
An estimated increase of 17.80% for the supply of electricity to all municipalities will be implemented on 1 July 2021.
Through a few relatively simple and practical changes to the way they use electricity, consumers can do their bit to not only save the planet, but also save themselves a whack of cash – upwards of R15,000 a year.
“Fintech’s PayCurve recently indicated that nearly 80% of South Africans take out expensive, unsecured loans to service their monthly obligations. With the rising cost of electricity and fuel, as well as the ever-present risk of load shedding, we need to find innovative ways to reduce pressure on our resources and save money,” said Susan Steward from Budget Insurance.
“The tweaks we can make at our homes, businesses and on the road may seem insignificant, but could amount to thousands in savings per year.”
Budget Insurance offers the following tips to save on electricity:
- Bright idea: switch to energy efficient light bulbs if you haven’t done so already. They may be more expensive, but last longer and use substantially less electricity.
- Out with the old: letting go of large appliances such as a fridge can seem counter-productive when trying to save money but newer fridges are far more energy efficient and will save you more in the long run. Appliances are graded from A to G on their efficiency, with A being the most efficient and G being the least.
- Winter warmer: Switch to more energy-efficient ways of staying warm, like using thick blankets and padded clothing instead of heaters and taking a shower instead of a water- and electricity-consuming bath.
- The habit of saving: Get your entire household to turn off any lights and appliances that are not in use, and to use them only for as long as required.
- Smart plugs for smart people: Smart plugs can be set to switch off your appliances such as TVs and sound systems entirely as opposed to putting them onto stand-by mode which guzzles power. Smart plugs typically have a companion app allowing you to set preferences, schedules and names for the devices.
- Time for timers: Timers, or smart switches – whether for geysers, pool pumps or security lights – will help you only consume electricity at specific times. Especially useful with geysers – one of the most energy consuming items in the household.
- Long-term planning: there are some bigger ways to reduce a home’s electricity consumption and should be considered as part of a longer-term investment and cost saving exercise. This includes putting in solar panels, switching out electricity-run stoves and ovens for gas and replacing air conditioning with ceiling fans and fireplaces. A pre-paid electricity meter would also be an effective way to monitor your home’s power consumption and assist with budgeting for power on a monthly basis.
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