Most of us are aware that leaving power points and lights on when they’re not in use is a classic way to waste energy; and your money with it. But did you know that using certain appliances at specific times of the day could be costing you big time? There’s a solution however. It’s called load shifting – and Powerclub is here to show you how, with tips and tools to help you save your energy for what matters!
What is load shifting?
In simple terms, load shifting is the practice of putting off using certain energy intensive appliances until cheaper periods. You see, wholesale energy prices fluctuate throughout the day. Many people are unaware of this (as most energy companies are pretty quiet about it) but the price of energy goes up and down, just like stocks on the stock market.
How does it work?
While there are ebbs and flows to the cost of energy (and freak events can occur) generally prices follow a pattern that’s easy to predict. Energy is usually at its most expensive in the late afternoon and evening, then starts to fall by 9.30pm and drops sharply after midnight. That means that by following this rhythm with your energy usage, you can save significantly.
Try setting the timer on your air con so it turns off automatically and leaves the house cool for you to come back to in the evening. Set energy-greedy appliances like your dishwasher and pool cleaner to turn on at 2 am and do the job overnight when prices are lowest.
Powerclub gives you access to Powerwatch, the app that helps you gain control over your energy usage. It’ll send you alerts when prices are high so you can adjust accordingly. You can also view detailed graphs in your Member portal showing the average price of energy throughout the day. That way, you can schedule your energy usage to economise.
Taking full advantage
In order to see the biggest savings through load shifting, you’ll need a smart meter. That way, your energy usage will be digitally recorded every 30 minutes and displayed in your Powerclub Member portal. You can then compare your results with the price of wholesale energy, alter your usage and start saving!
If you’re on a standard accumulation meter on the other hand, your energy usage is being recorded for the total billable period. In NSW, for example, a billable period is usually around 3 months. This means that the average cost of electricity is calculated for the full period and you’re charged a fixed rate, regardless of whether you load shift during price spikes. Contact Powerclub to see how we can organise getting a smart meter fitted for your home.
It’s also worth noting that if you’re not on a wholesale energy offer, then load shifting will only benefit your energy provider! You won’t see the fruit, because the retailer will simply charge you the same rate regardless of your cost saving strategy. So, the money you save will go in their pockets.
By understanding load shifting and using it to your advantage, you can enjoy significant savings on your energy bills. Simply downloading Powerwatch, setting timers on your appliances and viewing the results in your Powerclub member portal will set you off in the right direction. Being conscious of your consumption and making a few small changes to your routine can make a huge difference – without sacrifice.
It’s easy to make the switch to wholesale energy and get load shifting. Join the Club today to gain more control over your usage and start saving.
Cost shifting is when a retailer offers an attractive discount on a small part of your bill, such as usage, but increases other costs such as their supply charges to compensate.
Around 70% of Australians are concerned about being able to pay their energy bills - we believe that figure is way too high. We’re proud not to profit from people’s usage, bringing you energy at wholesale prices, so you can save your energy for life
As of 1 January 2019, energy retailers have lowered their standing offer prices following pressure from the Morrison Government to remove the loyalty tax for the almost one million standing offer customers who are paying too much for their electricity.