U.S. markets closed
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • Dow 30

    34,899.34
    -905.04 (-2.53%)
     
  • Nasdaq

    15,491.66
    -353.57 (-2.23%)
     
  • Russell 2000

    2,245.94
    -85.52 (-3.67%)
     
  • Crude Oil

    68.15
    -10.24 (-13.06%)
     
  • Gold

    1,788.10
    +1.20 (+0.07%)
     
  • Silver

    23.14
    -0.40 (-1.70%)
     
  • EUR/USD

    1.1322
    +0.0110 (+0.99%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • GBP/USD

    1.3342
    +0.0022 (+0.16%)
     
  • USD/JPY

    113.2600
    -2.0790 (-1.80%)
     
  • BTC-USD

    54,442.89
    -522.62 (-0.95%)
     
  • CMC Crypto 200

    1,365.60
    -89.82 (-6.17%)
     
  • FTSE 100

    7,044.03
    -266.34 (-3.64%)
     
  • Nikkei 225

    28,751.62
    -747.66 (-2.53%)
     

10 Smart Ways To Cut Your Utility Bills

·4 min read

In this article we are going to list the 10 Smart Ways To Cut Your Utility Bills. Click to skip ahead and jump to the 5 Smart Ways To Cut Your Utility Bills.

Utility bills are a major annoyance to most. Utility prices are soaring amid increasing costs and changing climate. In February 2021, three major power storms swept through Texas, a state generally more famous for harsh summers than harsh winters, and as such, was unequipped to deal with the devastation the snow storms wrought, with houses not being built to battle such terrible weather. This also led to power failures on a massive scale, as the highest demand ever was recorded, and at least 4.5 million homes in the state were left completely without power. And at the end of the day, wholesales electric prices jumped massively up to $9,000 per megawatt-hour, while typically the price would be around $50 per megawatt-hour. Some customers ended up facing more than $5,000 in bills for just 5 days, and led to them suing the power company, which later had to declare bankruptcy.

The Covid-19 pandemic has had a dramatic impact on the energy industry. Initially, when strict lockdowns were enforced, demand for energy fell as most businesses and offices were closed and people began to work from home. Some of the biggest electricity companies in the United States include NextEra Energy (NYSE:NEE), Southern California Edison (NYSE:EIX), Pacific Gas and Electric Co. (NYSE:PCG), Oncor Electric Delivery Company (NYSE:SRE) and Commonwealth Edison Co. (NASDAQ:EXC).

10 smart ways to cut your utility bills
10 smart ways to cut your utility bills

Pixabay/Public Domain

To compile the list of the best ways to cut your utility bills, we scoured the internet including forums like Reddit and Quora where people have shared their opinions on ways to cut utility bills that actually work. So without further ado, let's take a look at the best methods which you can use to reduce expenses while helping the planet too, starting with number 10:

Smart Ways To Cut Your Utility Bills

10. Take quicker showers

While most of our smart ways to cut utility bills focus on electricity, this one relates to water usage, which is a scarcity in many countries globally. Taking short showers will ensure that you waste less water and hence, your water bill doesn't force you to rearrange your expenses.

Copyright: citalliance / 123RF Stock Photo

9. Adjust your fridge and freezer thermostat

If you've programmed the fridge and freezer thermostat to the max, then you're likely gonna get a huge electricity bill, which you want to avoid since most fridge and freezers work perfectly fine even if the temperature is a bit higher. As utility companies like NextEra Energy (NYSE:NEE), Southern California Edison (NYSE:EIX), Pacific Gas and Electric Co. (NYSE:PCG), Oncor Electric Delivery Company (NYSE:SRE) and Commonwealth Edison Co. (NASDAQ:EXC) increase prices, it's necessary to use smart technologies like these to save utility costs.

Pixabay/Public Domain

8. Programmable thermostat

Smart thermostats are a thing now, and have been a thing for a while, thanks to Google (NASDAQ:GOOG), or Ecobee which cost between $150 - $250 and allow you to not just control the temperature but to set schedules as well, enabling savings when you're not there while some even have motion sensors to maximize efficiency in usage. As utility companies like NextEra Energy (NYSE:NEE), Southern California Edison (NYSE:EIX), Pacific Gas and Electric Co. (NYSE:PCG), Oncor Electric Delivery Company (NYSE:SRE) and Commonwealth Edison Co. (NASDAQ:EXC) increase prices, it's necessary to use smart technologies like these to save utility costs.

7. Power strips

If your electronics are off but plugged in, they will still consume at least some electricity, which is where power strips come in. It only costs $10 or $15 and allows you to easily turn off all appliances not in use. As utility companies like NextEra Energy (NYSE:NEE), Southern California Edison (NYSE:EIX), Pacific Gas and Electric Co. (NYSE:PCG), Oncor Electric Delivery Company (NYSE:SRE) and Commonwealth Edison Co. (NASDAQ:EXC) increase prices, it's necessary to use smart technologies like these to save utility costs.

6. Improved roofing

It is an expensive option, there's no doubt, but still a smart way to cut your utility bills which can save you between 7% to 15% on your total cooling costs, which over the years, is a great return. You will also get a nice tax credit to go along with your savings. As utility companies like NextEra Energy (NYSE:NEE), Southern California Edison (NYSE:EIX), Pacific Gas and Electric Co. (NYSE:PCG), Oncor Electric Delivery Company (NYSE:SRE) and Commonwealth Edison Co. (NASDAQ:EXC) increase prices, it's indispensable to use smart technologies to save utility costs.

Please continue to see the 5 smart ways to cut your utility bills.

Suggested articles:

Disclosure: None. 10 smart ways to cut your utility bills is originally published at Insider Monkey.