These five simple steps can reduce your electricity bills

With the ongoing Ukraine war, electricity prices have only been rising. Staying warm without breaking the bank is becoming a challenge for millions of people.

A power transmission line | Representational image | PTI

Staying warm and running our homes without breaking the bank is becoming a growing challenge for millions of people.

The rising cost of energy is adding to inflation, while the war in Ukraine is threatening gas supplies to large parts of Europe as winter approaches. This all adds up to higher household bills.

Let’s have a closer look at the background to this before diving into ways we can cut our domestic energy costs.

Many countries across Europe are putting in place energy price caps to protect consumers from the full impact of energy inflation, as this report from the BBC explains.

5 ways to reduce your energy bills

There are many ways we can reduce energy consumption in our homes. The first step is to understand which appliances are using the most power then finding ways to optimize how we use them.

Heating rooms and water are major sources of home energy usage. Image: Eurostat

According to EU research, heating and cooling rooms and providing hot water to the home account for almost 80% of domestic energy consumption. Targeting those for savings can prove effective. There are many other small actions we can take that can add up to significant savings.

1: Turn the heating thermostat down

According to UK consumer organization Money Saving Expert, you’ll reduce energy bills by around 4% for every degree you dial down the heating temperature control.

2: Insulate hot water tanks and pipes

Water cylinder jackets and pipe lagging are cheap and easy to install. They will quickly recoup your outlay and provide continuous savings, according to the Energy Saving Trust.

3: Draught-proof your home

Block gaps around doors and windows, says the Energy Saving Trust. Gaps allow cold air into your home while letting heat escape. If your home has unused chimneys, block them with a chimney balloon or old pillows.

4: Use appliances efficiently

Only use washing machines and dishwashers for full loads to reduce the number of cycles is the advice from America Saves.

5: Spend less time in the shower

Reducing the duration of your shower by just one minute can bring significant savings in energy bills. There are additional water bill savings for those with a metered supply, says Money Saving Expert.

Simon Torkington, Senior Writer, Formative Content

The article originally appeared in the World Economic Forum.