Along with possibly every other commodity in the world, energy prices are also rising quite considerably. With inflation rates going haywire across the globe, it is all the more important to remain mindful of your everyday expenses as these seemingly trivial costs can stack up easily and put a dent on your finances before you know it.
One such commodity that is undoubtedly essential in everyday life is electricity. Ever since its discovery and development for commercial application way back in the 1800s, almost no home has gone without it. From illumination, cooking, cleaning, entertainment, and other practical applications, electrical supply has powered houses across the globe and made life infinitely better and more convenient.
The same is true for Norwegian homes.
Unfortunately, due to the current financial market of the world, many industries are pressed to raise their prices to keep their businesses afloat. This includes energy companies that supply power in Norwegian cities. At this point, it is to no one’s surprise when the electricity bills come and they’re considerably higher than what you’re used to paying before. But while not surprising, most consumers still want to know what to expect so they can prepare what they need and explore options to decrease electricity consumption.
In this article, we’re going to delve into several ways you can make smarter choices when it comes to your electricity usage by learning how to monitor price fluctuations more effectively. Moreover, we’re going to explore a couple of ways that you can maximize power usage and minimize costs at the same time.
Managing Your Electricity Consumption By Staying Up To Date With Prices
Check Your Appliances
Every Norwegian household’s electricity use varies depending on the number and type of appliances they have, big and small. For example, a house that uses a refrigerator and an air-conditioner may consume more power than a house that has none. Also, it’s important to note that home appliances that produce heat or cold tend to typically consume more power than other everyday appliances like fans and TVs.
So, in order to generally understand how much your household consumes, the very first tip we have for you is to monitor the number of appliances you have at home – which ones use almost on an everyday basis, how many large appliances you have, as well as which ones you can do without. Cutting back on the number of electric-powered items you use is a first step towards managing your electric consumption.
Keeping Yourself Up To Date With Electrical Power Rates
Next, don’t be wishy-washy with your electric bills, especially if you are co-renting a property. If you have a roommate or you share a roof with someone who you split bills with 50-50, it’s important that you keep yourself updated with the latest power rates.
Power companies usually release memos regarding price increases and rollbacks so staying on top of those can help you monitor your personal consumption better and pay only what you really use. Getting a submeter installed to determine your exact usage is also a smart decision to make.
This is also applicable to those who are renting, in general, and pay their electricity bills directly to their landlord. Staying on top of prices can help you ensure that you are being billed the right amount for your power consumption as these prices tend to fluctuate month to month.
Compare Energy Providers
Don’t just decide on contracting with a power company without exploring your options first. Comparing energy providers is a smart move as it allows you to make your decision based on actual information you’ve gathered. Many energy companies offer various promotions to encourage people to sign up for their services or switch from another company.
For instance, some energy providers can provide you with the billigste strømpris if you sign into a long-term contract agreement with them, which basically states that you plan to use their service for an extended period of time (two or more years). This also actually works to your advantage as companies that offer this also offer fixed rates which means that your power rates won’t fluctuate unlike the rest of the market for as long as the contract is in effect. It’s honestly a win-win situation that we recommend to most consumers out there.
The bottom line is that you give yourself more buying advantage if you assess your options first before signing a contract with any company in your area.
Monitor Price Increases & Rollbacks (and what causes them)
Electricity rates are such a general concern that price fluctuations are often announced in many forms of media, be it on the TV news or on the morning paper. These fluctuations are often influenced by markets and industries that heavily affect the operations of power companies – like oil and gas. If there are spikes in prices of such industries, you can almost anticipate power rates to go up as well.
Keeping yourself up-to-date with the latest news on these types of markets can help you predict future increases and rollbacks in electricity rates and thus, help you prepare better as a consumer as well.
Follow Price Watch Groups On Social Media
Another thing that you can do to keep a close watch on these price fluctuations is to utilize one of the biggest information networks for local consumers: Social Media. I would say “internet” but for this type of fast-changing information, the social media grapevine can keep you in the loop faster than anything else. You can join price watch groups specifically so you can keep a good pulse on how things are moving in the energy market.
Furthermore, being in these groups can also give you key information on power companies and their latest deals and promotions. You can figure out which ones would be best to sign up for through crowdsourcing and asking group members for sound advice. After all, companies can tell you all they want but nothing beats the opinions of fellow consumers and users like yourself.
More Tips To Increase Energy Efficiency & Minimize Power Costs
Now that you know how to effectively monitor electricity prices, as well as how you can make use of such information to make better decisions as a consumer, here are more tips to increase energy efficiency around the home and further minimize power costs.
Upgrade Your Appliances
Older appliances typically use up more electricity to run. This is because older models are not yet equipped with energy-saving features that most new models have. For example, opting for inverter-type technology can lower your energy usage drastically, especially for appliances that you use for extended periods of time like a fridge or air-conditioner. So while upgrading your appliances may cost you initially, it will help you save on electricity costs long-term.
Practice A Minimal Lifestyle
Usually, your power consumption is directly related to how much “extravagance” you allow in your life. While most appliances and items we have at home provide us with a certain level of convenience that we can’t do without, I’m sure that there are also items that you can definitely let go of and still live a pretty decent life.
For instance, electric dishwashers can help you do the dishes more effortlessly and are useful when you have a big household, but for someone single, it can be considered excessive and unnecessary. Plus, this might be an unpopular opinion, but I still prefer hand washing dishes over any contraption.
If you look around your house, there may be a lot of things using up electricity that don’t necessarily need to be there. The simpler you live your life, the more quality you experience and the less bills you have to pay.
Make It A Point To Turn Off Appliances That Are Not In Use
We really can’t stress this basic rule enough so we feel the need to remind you again. Sometimes, our refusal to follow the most basic advice ends up costing us. Simple things like turning off the TV before you head to bed (not sleeping while it’s on), shutting down your computer after use, turning off the lights when you leave the house or go to sleep, and other mundane everyday practices can really help you lessen your power consumption. Sometimes, all it takes is a good follow through for everything you said you would do.