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Goodbye Savings – How to Cope with Eskom’s Latest Tariff Increase

Introduction

With yet another Eskom electricity tariff increase recently announced, South African households are again forced to dig deeper into their pockets. This can put a big dent in your budget, however, there are various strategies and methods available to minimise the impact of higher energy costs. This guide looks at how you can best manage this expense and still save money on your monthly bills while guarding against future increases.

Explaining 2019’s Tariff Increase

Eskom’s latest tariff increase has come with a bang, and it’s leaving South African pockets much lighter than before. In 2019 alone, the electricity price has gone up by 15% in April and then again by a further 14% in July, meaning customers need to look for ways of lessening their power bills in light of these increases. For those living off tight budgets or retirement funds who are feeling overwhelmed by how much they have to pay each month due to Eskom’s tariffs, this article provides ideas on how to battle the ‘Goodbye Savings’ phenomenon and manage finances more effectively post-increase.

What Will the Increase Mean for Households?

The latest tariff increases from Eskom will have a serious impact on households across South Africa. Already, studies show that the cost of electricity has become a major expense for many families and with these hikes, it is likely to take up even more of every household’s budget. Everyday items such as food, clothing and other necessities are all at risk and could be affected by an increase in energy costs if individuals don’t find ways to reduce their bills. In order to cope with this hike, households should look into shifting their usage pattern – using less power during peak times when rates are higher – as well as taking advantage of alternative energy sources such as solar or wind power. Additionally, government subsidies may be available which can help offset some of the tariffs while regular maintenance being done regularly can also ensure appliances run efficiently and limit energy waste. Ultimately however each family must come together to create realistic plans that minimize expenditure while still providing enough vital services.

Cost-Cutting Strategies to Implement Now

With the news of yet another Eskom tariff hike, there is an urgent need to find cost-cutting strategies that can help households and small businesses cope with the latest increase in electricity costs. Luckily, some measures can be taken immediately that will reduce monthly expenditure on electricity bills.

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One way to start saving money right away is by utilizing natural sources of light during occupied hours whenever possible. This involves strategic positioning of windows and curtains which optimize sunlight while still allowing them to close when additional artificial lighting is needed. Additionally, using energy-efficient bulbs (LEDs) further decreases energy consumption as they use up less power compared to traditional incandescent or halogen bulbs.

Using appliances efficiently also plays a significant role in reducing monthly electricity bills – for example setting refrigerator temperature between 3 °C and 4 °C ensure food safety but keeps electric usage at a minimum level. Households should unplug appliances not in use as well switch off standby mode gadgets such as computers and televisions since these too consume crucial amounts of power even when inactive over prolonged time periods . Lastly , always try to avoid using multiple electrical devices at once if it’s not necessary – this helps keep electric surges under control during peak times when tariffs are highest .

Financial Assistance Available

The escalating electricity prices from power utility provider Eskom can have a major financial impact for South African households. Fortunately, there are options available for those needing extra assistance to cope with the cost of the latest tariff increase. Government initiatives such as the Senior Citizen grant and special support for low-income earners exist in many areas across the country, giving some individuals access to subsidies and free electricity vouchers – all aimed at easing their financial burden. Non-governmental organisations have also sprung up with numerous ways of helping communities stay comfortable amidst limited resources; be it through solar energy solutions or money management courses that enable greater control over outgoing expenses.

No matter your personal budget or current living situation, seeking out financial assistance should always be considered when attempting to face an ever-changing economy. With additional guidance and tailored advice, anyone can easily find ways to manage their finances better – even in times of hardship like now due to Eskom’s revised tariffs. An important step here is reaching out before costs mount up too much so you don’t end up feeling stuck, unable to find a way out from under crippling debt caused by skyrocketing electric bills . Seek local information on grants and other forms of aid that may help during these difficult moments – you never know what helpful tool may appear until it’s investigated further!

Understanding Alternative Energy Sources

Understanding alternative energy sources can help you cope with Eskom’s latest tariff increase. Renewable energy sources like solar, wind, and geothermal are becoming more commonplace around the globe as an affordable and reliable form of electricity. Solar power is an especially popular green option in South Africa due to its capacity for both residential and commercial use. By investing in this eco-friendly source of electricity, homeowners have a chance to save money on their electric bill while minimizing their carbon footprint at the same time. Wind turbines offer another sustainable resource that can be used to generate enough power for entire households or businesses without having to rely heavily on grid electricity from Eskom. Geothermal systems also provide clean energy by tapping underground thermal reservoirs inside caves or volcanic deposits instead of relying upon fossil fuels which contribute greatly towards global warming. With so many available forms of renewable energy out there, it’s easier than ever before for customers to take back control over rising Eskom costs while still enjoying access to reliable and secure power solutions!

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How to Increase the Efficiency of Your Home

Making your home more energy efficient is a great way to help cope with the recent Eskom tariff increases. It’s possible to reduce electricity consumption and, in turn, save money on your monthly energy bills by making simple improvements or upgrades. Here are some of the best actions you can take to increase the efficiency of your home:

1. Install Energy Efficient Lighting – LED bulbs provide better lighting while using less electricity than traditional incandescent lights. Additionally, motion sensors can be used in light fixtures around your home as an easy and efficient way to conserve power when no one is occupying a room.

2. Unplug Electronics While Not In Use – Many electronic devices continue to draw power even when they’re switched off or in standby mode; unplugging those items when not being used will help you feel the financial benefits more quickly!

3. Utilize Natural Light – Open curtains during the day allows natural sunlight into a space, minimizing artificial light needs that consume far more energy than sunshine does outside each window pane
4 Upgrade Your Appliances– Older (especially pre-2000) appliances use significantly more electricity then their newer counterparts so consider investing replacing them with ones that feature advanced energy saving features such as A+ ratings . Modern powerful air conditioners also allow for greater control over ever increasing peak time costs due higher tariffs related times

5 Seal Gaps And Insulate Walls – Making sure windows doors and walls are properly insulated drastically reduces heat loss cutting down on heating costs most especially during cold winter months inside heated rooms

Long-Term Strategies to Lessen Your Dependence on Eskom

Eskom’s recently announced tariff hikes may lead to added strain on consumers’ wallets. Thankfully, there are some long-term strategies you can use to lessen your dependence on Eskom. Investing in energy-efficient appliances and LED lighting not only reduces electricity consumption but also pays for itself over time by reducing energy bills. Additionally, considering installing solar panels or using a storage battery system with an inverter could allow households more input into their energy production and make them less dependent on Eskom’s supply as any extra unused energy is paid back into the national grid at highly subsidized rates. Insulating walls, roofs or floors within homes will help improve home thermal efficiency and reduce air conditioning needs (and costs) during summertime. It is important to remember that whatever approach you decide upon it is likely going to require an initial outlay of money; however these activities can be seen as investments offering tangible returns over time – both through saving money from decreased reliance on Eskom’s power supply but also in terms of reduced environmental impact due to lower emission levels released per kWh consumed .

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What Should You Do If The Tariffs Keep Rising?

The electricity tariff increases announced by South Africa’s power utility, Eskom, have hit the wallets of millions this year. As consumers struggle to keep their budgets in check and save money on rising energy costs, it can be hard to anticipate further hikes. Unfortunately, if Eskom keeps increasing their tariffs then many households will find themselves facing stiff bills that can keep rising with each additional hike.

Therefore, it is best for people to remain proactive when considering ways to manage the potential rise of electric rates. Simple measures such as using less energy during peak times and opting for renewable sources like solar power or wind generators could help minimize future expense. Also investing into more efficient appliances and home insulation could lead to long-term savings over time are important steps that need serious consideration in order to reduce energy usage significantly. Furthermore, looking into energy suppliers who offer extensive cost-saving plans (with rate stability clauses) may prove beneficial.

Overall staying ahead of any impending rises in allowances by looking at alternative options both short-term and long-term will go a long way towards keeping monthly bills down so one can goodbye savings at least – temporarily anyway – while managing expenses responsibly no matter how high they climb!

Summary and Conclusion

Eskom’s latest tariff increase have left South African households with little to no choice but to find ways of conserving energy and eliminating unnecessary expenses. Poor Eskom governance has led to numerous electricity outages which have had a negative economic impact on households across the country and exacerbated already existing financial stress points.

The solution, however, lies in the hands of electricity consumers who can make use of effective methods such as preparing an energy budget plan, switching over to renewable resources such as solar power and wind turbines, overhauling outdated appliances for more efficient models that generate less heat as well as instituting lifestyle changes both at home and in the workplace. By budgeting properly for their electricity usage needs, citizens can lessen their dependence on Eskom over time and extend savings both today and into the future.

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