The year has started with crisp frosts and exceptionally high electricity prices. On January 4, the owners of the exchange package received a truly frightening surprise when the average daily stock price rose ten times more expensive than usual. At peak hours, electricity cost 1896 euros per megawatt-hour. That is, heating dinner and frying a cutlet cost 4 euros that night, while a trip to the sauna with an electric heater cost as much as 100 euros.
Higher-than-average electricity prices are also forecast again in March, when Finland's Olkiluoto nuclear power plant goes into maintenance and is out of line for more than a month.
Everyone remembers what happened to electricity prices a year or two ago, when prices were setting records and no one knew what the next day would bring. The disconnection of Russia from the electricity grid, the closure of the production blocks of Narva power plants and the increase in the number of electric cars could bring back the situation that prevailed in the electricity market in 2022. Now is the right time to think about how to prepare yourself for this so that electricity prices do not cause fear.
How to turn what is happening in the energy market to your advantage and what can be done in this situation to keep costs under control? Read what are the 5 steps to reduce your electricity bill.
The first and easiest step to reduce your electricity bill is to monitor your consumption. If possible, postpone energy-intensive activities to times of the day when electricity is more favorable. When using an electric boiler or other devices that consume electricity, it makes sense to install a monitoring device on them that monitors the exchange price, and in case of a high price, temporarily turns off the device.
This method works well if there are individual hours a day when the cost of electricity is expensive. Most often these hours are between 7-10 in the morning and 17-21 in the evening.
However, if the price of electricity remains high throughout the day, then there will be no great benefit from scheduling, especially if you take into account that in cold weather it is not possible to turn off the heating.
Another way to protect your wallet is to opt for a fixed electricity package instead of the stock market price, which will help prevent price fluctuations. At the same time, it is worth taking into account that a fixed package is always slightly more expensive than the average exchange price, and all risks are covered by the consumer.
However, to maintain peace of mind, a fixed package is a good idea in every way, especially if you do not want or do not have the opportunity to schedule electricity consumption, for example in a situation where you have electric heating at home.
The third way to reduce the electricity bill is to start developing a personal energy infrastructure. The first step for this is the installation of solar panels.
This solution allows you to generate electricity for your own use and sell the excess energy back to the grid. By consuming electricity produced by solar panels, electricity costs can be significantly reduced throughout the year. In addition, you do not have to pay a network fee for the electricity you produce and consume yourself. Looking at today's home electricity bill, almost half of it is made up of various fees paid to the grid company.
At the expense of electricity sold to the grid, an advance is generated, which you can use during periods when the electricity produced by solar panels is not enough.
Of course, solar panels have the highest yield in summer, but modern panels are also effective in winter. Technology is constantly evolving, and the panels in use today are already noticeably better than those that were offered 5-7 years ago. In addition, newer solar panels have a significantly longer service life. Today's panels will last 25-30 years.
By installing an energy storage device in your home, you can buy electricity when electricity is cheap, store it and use it at a time when the stock market price is high. If the volume of the recorder is greater than the domestic consumption need, there is also the possibility of selling the stored electricity back to the grid using the energy storage.
The recorder today can be installed in virtually any household. For example, the Ampere + three-phase solution can be directly connected to your home electricity network. The energy storage can be controlled manually or through a smart control program connected to Nord Pool. The management program monitors exchange prices and optimally controls home energy consumption.
Returning to the example of January 4, the owners of the energy storage were able to fully charge the recorder the night before and use the stored energy on the day of January 4. Thus, they were able to consume electricity 7-10 times more favorably on this day.
It is especially effective to install solar panels together with an energy storage device. This allows, in addition to grid electricity, the electricity produced by solar panels to be stored in domestic conditions and put into use at the right time.
With this solution, the summer electricity consumption of an average household can be practically covered by its own energy sources. Winter electricity bills are also significantly reduced.
Comparing various solutions to reduce the electricity bill, it is this option that is the most effective today. The Ampere+ battery solution also includes an inverter, which means that you do not need to install an additional device to install solar panels.
How much you can potentially save on your electricity bill depends on consumption habits and the measures taken by the homeowner.
By manually adjusting the electricity consumption, you can save an approximate 10-15% of electricity costs. However, the truth is that the exchange price of electricity is known only a day in advance and one must be prepared that on some days the price of electricity may be permanently high. In this case, the timing will not have such a big effect.
The fixed package guarantees stability and protects against unexpected events - knowing your average consumption, you can calculate in advance how big your electricity bill will become in one month or another.
Using an energy storage device, solar panels or both, you can earn money in the summer and save 25-50% of your electricity bill in the winter. All in all, it gives you extra value for 2,000 euros a year.
With unexpectedly high stock prices, the savings from energy storage are even greater. Then you can earn up to 25 euros in just one day alone. Should a situation similar to 2022 prices be repeated, a system installed in an average private house could even create up to €1,000 of added value in one month alone.
In addition to reducing the electricity bill, the energy storage is also helpful when there is a power outage. Especially useful is this device in rural areas, where it can take several days to eliminate the malfunction.
When the energy recorder receives information from the control application that a storm is coming, the recorder goes into storm readiness mode and starts storing energy in advance. If the electricity is lost, then the home electrical system switches to the electricity stored in the recording. With a 20 kWh device, the average household can handle 2-3 days. This is a much more convenient solution than a generator, and you do not have to worry that the house will go dark or the freezer will melt.
The energy storage can also be installed in an apartment building. In the event of a power outage, the energy storage unit ensures that the house's heat node and front doors are functioning, as well as the elevator and general lighting. In modern apartment buildings, solar panels are often already installed on the roof. The next step from this is the energy storage, which allows you to store electricity.
Given that the high electricity prices in January will certainly not be the last this year, it is worth thinking about which steps in your household will be the most practical. The electricity consumption of each household is different, and no single recommendation can be given to reduce the electricity bill.
If you want to install energy storage and solar panels in your home, Ampere+ will help you find the most suitable solution for your home. The ordering and installation of solar panels and energy storage is fast. The waiting period is 1-2 weeks. In this way, you can face spring and summer already feeling much more confident.
