Most of us are always looking for ways to cut electric and natural gas bills. Energy consumption can account for a great deal of a household’s monthly expenses — no wonder everyone seems to be asking themselves how to reduce energy bills and save money on electricity at home. That’s why sometimes we need to go beyond well-known energy-saving tips and find creative ways of lowering utility costs.
Undoubtedly, home energy conservation and seasonal energy-saving methods are great for your bills. But there is much more we can do if we want to save energy. From energy bundles to energy-efficient improvements, it’s worth it keeping an eye on the current energy trends, and finding out how they can help your home or business to reduce energy costs.
Keep reading to find out the main energy trends that can be used to save you both energy and money.
Energy-efficient upgrades
According to Natural Resources Canada (NRCan), the average set of major residential appliances consumed 2,600 kilowatt-hours (kWh) per year in 2016, which is half of the 1990’s consumption. And it’s all thanks to energy efficiency.
Energy efficiency isn’t a new subject for anyone looking for lower energy bills. Still, the topic becomes each time more relevant, as the world looks for both more sustainable and cost-effective energy solutions.
Energy-efficient improvements, whether for homes or companies, are great for energy saving and can cut such costs by as much as half. Be it LED light bulbs, programmable thermostats or insulation upgrades, energy efficiency will make your bills less vulnerable to the cost of energy. In case electricity and gas rates go higher, your finances won’t be so impacted, as your average consumption will be under control.
Micro-generation of electricity
The definition of micro-generator can change depending on where you live and the local regulations. On a rough note, the micro-generation of electricity is producing a part of or the total power you consume.
Generally, micro-generation units generate electricity from renewable sources, such as solar power, wind energy and geothermal energy, which can considerably reduce your overall energy consumption, or even prevent you from consuming energy provided by the electricity retailer.
Whether using solar panels or wind turbines, Canadians can take advantage of Canada’s pretty diverse energy sources to generate their own electricity. Depending on your generation potential, you could never have to pay electricity bills again.
Of course, such a method has its pros and cons. It can require considerable initial investments, and may not be ideal for people looking for short-term results. However, it can be suitable for people looking for energy independence, long-term savings and more eco-friendly energy consumption.
Electricity and natural gas bundles
Getting your electricity and natural gas from the same energy provider can provide you with some perks and even save you money. As energy retailers see an advantage in providing you with both services, they usually offer incentives for customers who opt to purchase both services from the same company.
What many consumers don’t know is that energy bundles can also be advantageous for them. Alongside more organization with their bills (they would receive a single bill instead of two), people can also win some perks for choosing such plans, including discounts, promo codes and extra rewards program points.
Most electricity and natural gas providers, including ATCO, Direct Energy and ENMAX, provide their customers with energy bundles. Although not all of them offer specific perks for these bundles, by receiving your energy bills from the same provider will already make your utilities look more organized.
Comparing energy providers and their rates
Depending on where you live in Canada, you can have the freedom to choose your energy providers. Such flexibility increases your chances of finding better electricity and natural gas plans. At the same time, it makes it harder for you to find out which energy retailer has the best plans and rates in your area.
In case you want to shop for electricity and natural gas in Canada, but don’t know where to start, EnergyRates.ca can be of great help. The website is an unbiased comparison tool that allows you to check the major energy suppliers in your area, as well as their rates, by just filling in your postal code. You will probably be more prepared to choose the ideal energy plan once you know which companies offer the best available rates in your area.
Fixed-rate energy plans
Fixed or floating electricity rates? As you already know, the multiple options offered in deregulated energy markets give you freedom, but it can also get confusing to figure out who is the best energy supplier in your area. As if this isn’t enough, consumers in such markets also need to figure out which plans and type of energy rates are ideal for their home or business.
When it comes to fixed or floating rates, you could receive entirely different electricity bills depending on the plan you choose. For people looking for cost certainty, fixed rates can be a smart choice. Such energy plans allow you to secure a fixed cost of electricity, which dramatically diminishes your financial vulnerability.
If you take a look at the historical prices of electricity in your area, chances are high that they have gone up and down for the past years more than you could’ve imagined. From natural disaster to politics, anything can affect energy rates — and it’s even more difficult trying to know what to expect from your monthly bills. Fixed rates can protect you from such volatility by providing you with the same monthly energy rates for as long as your term goes.
Additional energy-saving tips: If you want to learn how to save energy at your company or home, find below two quick resources with specific tips for lowering your electricity and natural gas costs:
