Electricity prices at an all-time high? Five tips for saving money at home

18 Mar 2022 | News

The average price of electricity on the Iberian wholesale market has exceeded 500 euros per megawatt-hour (MWh), according to data from the Iberian Electricity Market Operator (OMIE). Although consumers can't control these increases, there are some day-to-day actions that can mean savings on your electricity bill.

‘There are plenty of actions that consumers can take individually in their homes that make all the difference to the cost of their energy bills,’ says Selectra, a company that compares electricity and gas tariffs.

Where to start? Selectra has put together a set of five tips that can be useful for saving electricity at home. Take note:
  1. The heating must be at an even temperature - ‘If you're in the habit of switching on the heating as soon as you get home at the end of the day, there's a trick that can help you use your energy efficiently! By programming the thermostat for an average temperature of 21ºC, you can not only create a very pleasant atmosphere in each room, but also pay much less for your bills, unlike what you'll have to pay if you opt for higher temperatures.’
  2. Isolate any air leaks in your home – ‘This is one of the most common problems in Portuguese homes, the lack of good insulation that ends up being responsible for the high energy bills of these consumers. This is because the heat generated by the electrical appliances ends up escaping quickly through the air leaks in the windows, forcing the heaters to be switched on for much longer than necessary to achieve the desired room temperature.’
  3. Switch off the thermostat at night ‘Before going to bed, switch off the thermostat and give the electric heating a rest too. However, if your home tends to be really cold, what Selectra recommends is that you set your thermostat to around 15ºC during the night. This way you'll be able to preserve heat and also reduce consumption compared to higher temperatures.’
  4. Heaters with fewer watts are more economical ‘First of all, you should bear in mind that prices will vary according to the tariff you have contracted and the power of each electrical appliance. But one thing is certain: the higher the power of the appliance (W) and the temperature for which you programme it, the more you will have to pay for its use.’
  5. Pay attention to the discounts offered by commercialisation companies – ‘At the beginning of the year, several suppliers updated the conditions of their tariffs and many of them even announced that their prices were going up. However, each company is responsible for deciding its own tariffs and discounts, so prices end up being different for all of them. You should therefore carry out a market study or contact a company specialising in this type of service to find out which offer is the most advantageous for you.’

 

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