While the run-up in commodity prices, with electricity and gas leading the way, does not stop, there are simple tricks to save something on your utility bill.
War, inflation, and skyrocketing bill cost: here’s how to save money
The war in Ukraine and geopolitical tensions have driven up the cost of commodities, primarily gas, leading to a record rise in energy bills for both businesses and households. While the European Council is expected to decide on the possibility of a Europe-wide cap price that could counteract the rise in gas prices, which is also affected by the strong speculation operated in the small Amsterdam market, which is the reference market for the price in Europe, there are some useful tricks to save something on energy bills.
Paradoxically, this rise in inflation, largely conditioned precisely by the high cost of energy, could be an opportunity to find more sustainable energy solutions, somewhat like what is on the horizon with Ethereum’s long-awaited Merge update, which should make Ethereum’s blockchain much cheaper and more sustainable.
Alternatives to classic fossil sources are being sought, such as further development of renewable energy or the use of gasifiers or hypotheses for the construction of state-of-the-art nuclear power plants. But these are medium to long-term interventions, while the problem of rising prices is as topical as ever, and is creating enormous problems for many European businesses and families.
ENEA, the National Agency for New Technologies, Energy and Sustainable Economic Development, recently presented a study entitled “Actions to Reduce National Gas Demand in the Residential Sector,” which aims to save nearly 2.7 billion cubic meters of methane gas.
The study conducted by ENEA and good habits to adopt
The study goes over some possible tricks for conscious energy saving. Such as the possibility (which will probably become a necessity) of lowering the temperature of thermostats by 1°C (some propose even 2 degrees), from the usual 20° to 19° to achieve a national average domestic heating fuel savings of 10.7%. In addition, reducing ignition time by one hour a day can contribute to a 3.6% decrease in consumption.
Or again, it is proposed to use only energy-efficient A-range appliances. The Italian government is also considering a measure to delay the turning on of heaters for a fortnight and reduce their hours by two hours.
Many businesses are already gearing up with night or weekend shifts when the cost of energy for lower consumption is priced slightly lower. As for households, the advice would be not to leave systems on standby and use appliances such as washing machines and dishwashers after 8 p.m. when rates are lower. Use the microwave oven, which offers about 50% savings compared to regular ovens.
Using the air conditioner in dehumidifier mode is a habit that is not only energy-saving but also good for the environment. Using LED light bulbs is also definitely a very useful practice for energy-saving purposes.
There are definitely good habits that should always be observed to save energy and the environment. But now with gas and electricity prices skyrocketing to levels that are now unaffordable, this practice now becomes almost a must for many families and small businesses, who may even prefer not to continue their business precisely because of the irrational rise in energy bills.