When it seems like everything costs more than last year, it’s a great time to think of ways to get some money back into your pockets by doing a few simple things to cut down on your hydro bill.
Change to LED Lightbulbs
LED lightbulbs use 75% to 90% less energy than traditional incandescent, fluorescent, and halogen bulbs. Traditional incandescent bulbs produce 90% heat and 10% light, while LED bulbs consist of 5% heat and 95% light. It’s also why these bulbs give off virtually no heat, and you can go with a considerably lower wattage to get the same amount of light. A bonus of emitting less heat can mean reducing air conditioning costs during the hot summer months.
Energy-efficient LED lights also last a very long time. With a minimum operational life span of 25,000 hours or over 20 years, they’ll last about 25 times longer than incandescent lightbulbs.
Interesting Fact: As bulbs slowly accumulate layers of dust, their brightness gradually dims. Give them a quick dusting for a bright surprise 🙂
Change Your Usage Habits
On November 1, 2022, the OEB (Ontario Energy Board) lowered electricity prices for households and small businesses under the Regulated Price Plan (RPP). However, changing your usage habits can save you even more on your monthly hydro bill.
For example, using your dishwasher, washer, and dryer during off-peak hours, when electricity costs roughly half, can save you about $20 monthly.
According to the OEB, off-peak hours in the winter are weekdays from 7 p.m. to 7 a.m., all day weekends, and holidays. Current pricing is listed at 7.4 ¢/kWh compared to 15.1 ¢/kWh during on-peak hours running weekdays from 7 a.m. to 11 a.m. and 5 p.m. to 7 p.m. Check your local hydro company’s website for updates.
Unplug Devices Not in Use
Did you know that electronic devices and appliances use energy even when you’re not using them? It’s true. When turned off, things like microwave ovens, TVs, cable boxes, phones, and gaming systems consume electricity. This is referred to as phantom power. To track the power consumptions that your various devices use while not in use, consider purchasing plugs and powerbars that track this information. An easy fix is plugging all your electronic devices into a power bar and switching the entire power bar off when these devices are not in use. Some power bars even come with built-in auto shut-off capabilities that can detect when they’ve been out of use for a specific time.
Check out our 37 Money Saving Tips Guide for more tips on avoiding wasted expenses and increasing your savings.