How to Lower Your Electricity Rate And Other Utilities
When it comes to your utility bills, especially electricity, what are some of the thoughts that you or I or we usually go through –
- Why am I paying so much for electricity?
- Why is my electric bill so high?
- What can I do to lower it?
- Is there a better rate available for my gas connection?
- How do I lower my water bill?
These are the thoughts that a regular homemaker goes through and even a utility manager at a real estate company.
If you are managing “a” home, then you would go about the usual steps –
– turn off the lights when not in use.
– manage the cooling using smart thermostats.
– go on google and look for ways to reduce water & gas usage…
And more, and more, and more.
Still, you will find out that those actions are not enough…
When it comes to a utility manager at a large real estate company, the challenges are different. It’s a portfolio of properties that are being managed with little control over how the utilities are being used. Here, it boils down to –
– Are we with a service provider that is giving us the best rates?
– Are there leaks at the property?
– Are we managing the utilities in the most judicious manner?
We understand both these perspectives and hence decided to do something about it. How? Well, giving you a few tips and tricks and also telling how we can help you.
So let’s take a look –
Tips on how to lower your utility rate
Do your research
When it comes to utilities, you should do the same research that you do for cars, clothes, and loans. You may ask why? Well because, unlike clothes where you have an option to return them, you don’t have the same choice with your utilities.
We recommend checking for electricity service providers who provide services in your neighborhood. Compare the rates across service providers and check which suits your needs the most. It is okay if your service provider is different from your neighbor or Mrs. Larson who stays 2 houses away as long as you are paying less without compromising the quality of services.
Pro Tip – All of this sounds like a hassle. Well, then look no further. Utility Junction is your partner in this journey. Contact us and we will guide you through the entire process.
Be open to seeking help
One aspect that always stops us from seeking help is the “I got this” syndrome. One always has the feeling that he/she can manage the situation without any help. That holds true when it comes to financial decisions.
This is where everything starts going downhill. When it comes to saving money, it does not matter how much, if you are not sure what needs to be done – ask. If you think you know what needs to be done, validate it – by asking for help.
One way of seeking help is to ask friends and family. However, when it comes to utilities, that may not be of as much help. Here, always seek inputs/help/opinion from an expert. Now, you may think, who really has the time to guide me? Well, that’s on us if you are not aware of it that Utility Junction is always available to help you with these decisions.
How? Track your property on our dashboard and let it help you. Need help in finding a service provider that works best for you – contact us and we will walk the way with you.
Don’t shy away from paying a deposit if it is getting you a better rate
More often than not we have experienced this. We recommend a provider who is offering a rate that is as much as 40%-50% lower than the existing service provider. To sign up there is a deposit payment needed and the client decides not to go ahead.
That leaves us aghast. Why??? Especially, when your deposit is safe with the service provider.
While the general feeling around is – Deposits are not and never good. We say – If the deposit payment helps you get better rates and helps you save money in the long run, go for it! When it comes to saving money on utilities, one has to think long-term. Short-term saves will hurt in the long run.
Always look for campaigns that your service provider is running
Service providers always run various campaigns to retain their customers. These range from –
– Providing discounts for signing up for autopay on your bills.
– Running referral programs.
– Subsiding the purchase of equipment like smart thermostats that play an important role in saving money by helping you regulate your usage.
– Additional usage allowance or discounts for switching to green energy like solar.
More often than not we tend to ignore these and not pay attention. Mostly, because we feel either the idea is just too good to be true or we just find it too expensive.
This is where one needs to again think long term.
If you are happy with your service providers’ services and you are getting rewarded for referring your friends and family to enjoy them as well, why not take the opportunity?
If you have been planning to change your thermostat and now have an offer from your service provider that can help you save money in the long term, why not?
A lot of people shy away from green energy like solar power due to the cost involved in the installation. What they don’t take into consideration, is in the long run, solar power plays an important role in reducing your energy bills. Also, there are programs available wherein any excess energy that your solar setup generates can be added back to the grid and that gets adjusted in your bills.
Bottom line
You need to look out for yourself when it comes to saving money. And Utility Junction is here to walk with you on this journey. You are NOT ALONE.
Have any questions, comments, feedback – contact us here or send us an email at support@utilityjunction.com