2022 Energy Costs Surge: What to Do to Lower Your Bill
Australian power companies are already warning consumers of the future increase in energy bills. Don’t panic. This article will explain why this is happening and what you can do to reduce your energy bill, from installing insulated roofing to embracing outdoor living.
Why Energy Costs are Rising
Many countries rely on Russia for natural gas. With the war between Russia and Ukraine, these countries are now rushing to find other sources. This increased the demand for thermal coal and caused a surge in coal prices worldwide.
While Australia is a major exporter of thermal coal, it cannot sell at a price lower than the international standard. That means even local buyers of Australian coal have to pay the same high international price.
Another factor is the heavy rain and flooding in Queensland and New South Wales that affected coal mining operations. Because of Australia’s significant role as a coal exporter, this reduction in supply has also contributed to the increase in world coal prices.
The effect on household energy bills will be substantial because the wholesale price that power companies pay for energy makes up 30% to 40% of a statement.
What To Expect
On April 21, Canstar Blue released an overview of energy rates and expected increases. That can provide you with an idea of the changes to expect.
For instance, GloBird Energy’s Boost electricity plan will have the highest increase of 54.32% in Brisbane, from an estimated annual bill of $1,158 to $1,787 for 4600 kWh yearly energy usage.
The lowest increase in Brisbane is in OVO Energy’s The One Plan at 8.07%, from an estimated annual bill of $1,115 to $1,205, also for yearly energy usage of 4600 kWh.
What Your Household Can Do to Lower Your Bill
Families can take several simple steps to reduce their energy consumption without sacrificing comfort. These can help you manage your energy bill.
Install Insulated Roofing
Insulated roofing is one of the most effective ways to lower your energy bills. By preventing heat loss through the roof, it reduces the amount of energy needed to keep your home warm in cold weather.
In hot weather, insulated roofing helps to reduce heat gain by keeping the sun’s rays from directly heating your attic or loft. It also protects your home from the hot air in your roof space. The roof space of a typical house is often scorching, even reaching temperatures over 40 degrees in extreme cases. Insulation prevents that heat from seeping into your living areas.
Additionally, insulated roofing helps keep the cool air produced by your air conditioner from escaping, meaning you can use it for a shorter time. So, if you want to stay cool this summer and save some money, invest in high-quality insulated roofing!
There are many different ways to use natural ventilation to cool your home during the summer months. One of the most effective strategies is simply opening your windows and doors, allowing fresh air to flow freely through your home. That can be especially useful on breezy days, as the wind will bring cooler outside air inside. Additionally, using fans and other circulation devices can help to distribute that cool air more effectively throughout your home.
Take full advantage of daylight to turn off lightbulbs during the day. Opening doors and windows allow cool air in and floods the home with light.
Use solar-powered lightbulbs outdoors that naturally turn on at night and turn off in daylight. These will keep the surroundings of your home well-lighted and secure without electricity.
There is no better way to enjoy natural light and fresh air than to extend your living space to the outdoors. Build a patio with insulated roofing as protection from the sun. You can spend most of your day and your evening here before going to bed.