Electricity is an integral part of human life usable in many ways, from powering homes to heating them or even cooling them. As a result, humans can’t live without it.
The problem is that the more you use electricity, the more it costs us. And while there are some ways to save some money on your power bill, like switching to LED lightbulbs, there are also many other things you can do to save a lot of money each year.
Understanding the Rate Structure of Electricity Tariffs
Understanding the rate structure of your electricity bill is critical in determining how much you pay for electricity.
There are two main elements of Singapore’s electricity tariff: fuel cost and non-fuel cost. Fuel cost relies on global economic patterns, where global market changes affect the electricity price in Singapore. Non-fuel cost, on the other hand, is the cost of generating and transmitting electricity to homes.
Fuel cost is mainly dependent on global market trends. However, the non-fuel cost is affected by several factors, such as the cost of running and maintenance of power stations, maintaining the power grid, and the cost of personnel and systems used for such activities as meter reading and billing.
How to Reduce Energy Usage and Lower Monthly Energy Costs
There are numerous reasons anyone would want to reduce energy consumption ranging from saving money to reducing carbon footprint.
Energy efficiency is a major challenge globally. In fact, according to the Energy Market Authority (EMA), residential energy use accounted for about 15% of Singapore’s energy consumption in the first half of 2021. Although this was a drop from the previous year, the figures are still high. The main good news is that there are many things households can do to reduce energy usage and your monthly Singapore electricity bill, including:
Unplug your electronics when not in use.
Most modern appliances such as computers, smart TVs, and printers draw electricity even when powered down. That is because these devices go in standby mode instead of turning off when the power button is pressed.
Upgrade your appliances
Most modern appliance makers are carbon footprint conscious. That means that they design their products with energy-saving in mind. If your using an old washing machine or refrigerator, upgrading to modern ones can be a huge step toward saving your electricity bill
Switch to Motion-activated LED bulbs
Led bulbs are the most energy-efficient in the market today. Switching to motion-activated LED lamps helps reduce the electricity bills by ensuring the light is on only in rooms where it is needed. If switching to motion-activated bulbs is out of your budget, turning off light when leaving a room would also go a long way in reducing energy usage in your household.
Use ceiling fans
Ceiling fans use less electricity compared to air conditioners. Although both have pros and cons, if you are keen on reducing your energy consumption, it is advisable to go with ceiling fans.
Run full loads of laundry and dishes instead of using the dishwasher for only one dish or a load of laundry
Understanding Your Electricity Bill and How it Works
Understanding your Singapore electricity bill is important because it can help you save money. You should know how to read your electric bill and what each line on the bill means.
You should look at the total kilowatt-hours (kWh) used for the month, usually listed in the top right corner of your electric bill. It’s important to note that kWh is measured in power usage, not time.
Most electric companies will list out all of the charges on their bills. Still, the list may come with different headings or titles, so it’s essential to go through each line item to see if there are any charges you don’t recognize or understand.
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