Empower energy budgeting! Calculate estimated costs like a pro and take control of your consumption and spending.
Published on 07/11/2023
By will walton
Energy Comparison
Some Australians suffer bill shock because of expensive energy bills. Factors such as a change in rates may cause bill fluctuations. That’s why it’s important to prepare the budget by estimating the next energy costs. So, how to calculate the estimated energy Cost or bill on your own?
There are five methods on how to determine estimated power bill costs or price. Of course, the results are less accurate but helps to prepare the budget and avoid bill shock in the future.
Looking back the previous energy bills might be a bad idea for some consumers. Particularly, for those with bad experience because of bill shock. However, the most important details to predict the next bill is on that paper.
The total energy costs consist of tariffs, supply charge, peak/off-peak charges, and GST. But, the rates which more affect energy costs are the supply charge and the rate per kWh. These charges may give bill fluctuations. For example:
Also, check the monthly or quarterly energy costs trend. It is a good basis too in estimating the next energy costs, especially if the consumer did not switch retailer.
Energy rating sticker helps to compare the energy efficiency of appliances. It also tells the power consumption of an appliance. Most large devices have energy ratings sticker but, it is not common for smaller ones. If the device doesn’t have an energy rating sticker, check its power consumption which is written under the device. It is another way to determine the estimated electricity bill costs. However, it is less accurate because of other factors such as settings, frequency of use and age of the device.
Energy rating sticker also helps to identify appliances which consume more power. It serves as a guide too for consumers who want to save energy.
Reading the electricity meter method is more accurate than relying on the appliance’s power consumption ratings. Most meters these days, especially smart meters show the total energy consumption. Check meter and compare energy consumption for the past months. The higher the total energy consumption, the higher the next bill is and vice versa.
Also, do some experiment, observe meter and check which appliances cause a big kick in energy consumption. Use this strategy to limit power use to reduce the energy bill.
Estimating energy cost using the device meter is the most accurate method. However, it needs some time to calculate a read. Device meter needs to be plugged and leave for a week to calculate the most accurate readings. It reads the real-time power consumption of a particular device.
This method is the best for consumers who want the most accurate results. It’s worth the waiting time if it means saving money and reducing bills.
Many electricity comparator websites such as Econnex may show estimated energy costs of a consumer. The system calculates on its own by simply inputting information like total energy consumption. It’s easy and free to use. If still unsatisfied with the bill, Econnex also offers a free service where consumers can compare prices and switch retailers in a few minutes.
Compare plans, make a choice and start saving money. Visit Econnex.
