What Is Off Peak Electricity?
Off-peak refers to lower, discounted electricity prices during specific times. Off-peak times are generally when residential homes and businesses use less electricity. Off-peak times will vary depending on your location and meter type, but typically are at night or weekends.
Whether you are a homeowner or a renter of an apartment, everyone pays an electric bill. You power your lights, appliances, and devices throughout the month and your energy provider sends you the bill based on your electric plan and use. With Australia having some of the highest reported average electricity rates for both commercial customers and residential customers, many are looking for ways to save money or find a utility company that can offer them the best plan for their money. One great way to cut down on spending is to leverage off-peak electricity hours offered by electric utility companies to your advantage. If you have heard about off-peak electricity but want to know more, continue reading below to discover why off-peak electricity may be the break you're looking for.
Saving on Energy What Is Off-Peak Electricity?
For the general population, work takes up most of the day, meaning that the majority of people come home to either take care of their daily chores like laundry or relax as they cook dinner and watch television. The sudden spike in the number of people using electricity during this time puts a strain on energy companies. In order to combat this widespread issue, many energy providers will offer discounted electric rates on what is known as "off-peak hours." This provides people with an incentive to use energy during these times in order to save money on their energy bills. For those who fret about their utilities when the bill comes in the mail, it can be a better option to run appliances during these hours than to operate them during hours where pricing remains normal.
How Does It Work?
While offering off-peak electricity discounts is a common tactic used by electric companies, the specifics of how much you can save using this method will vary between different energy companies. Make sure to check with your supplier to see when your service area is using the least energy and what their cheap electric rates look like in comparison to your normal rates. Then, plan to use some of your top energy-consuming appliances during these off-peak hours. For example, you may want to run your heating, air conditioning, or washer and dryer during the off-peak times to save extra (if you don't already have energy-efficient appliances in place). Of course, this can also help you to save money if you are taking additional steps to cut down on expenses such as making sure that you are heating or cooling a house that has been properly sealed, only using energy-efficient appliances, or considering renewable energy. If you supplement your off-peak hour electricity consumption with other power-saving practices, you will see the reflection of your efforts in your next bill from your supplier.
How Do I Get Started?
The best way to get started is to look around at energy companies near you to find the best provider doling out the best rates. Take a look at the top providers in your area to see how much they are charging for their basic electric plans and how much you will be paying when you're not operating during off-peak hours as well. If you focus just on off-peak electric rates, you still may not receive the best option and may end up paying more with your energy provider down the road.
If you want to search through competitive prices and find the best option for you without the hassle, compare electricity providers with iSelect to discover how much you can be saving on your electric service and help you find a new plan today.
Electric rates in Australia are high, but that doesn't mean that you can't save money by reaching out to customer service and learning about deals offered by your electric company, looking for additional ways to save money on your electric service, and being smart about your energy consumption. If you rely more on your electric supplier than you do on a natural gas company, use the information provided above to save on off-peak hours.
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