Business News of Saturday, 8 March 2025

Source: pulse.ng

8 practical ways Nigerians can reduce electricity costs amid rising prices

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Many people now find it hard to pay their bills due to frequent power outages and increased tariffs. Nigerians are taking various steps to reduce their energy bills by using different strategies and alternative power sources.

They are also switching to more efficient appliances, controlling their usage times, and using tools to monitor energy consumption.

This guide presents 8 straightforward methods that Nigerians are using to lower their electricity costs while ensuring a steady power supply and reducing overall expenses.

1) Embrace Solar Energy Solutions

Many households and small businesses are installing solar panels and solar home systems to supplement grid power. This renewable source not only provides a reliable alternative but also reduces long-term electricity costs.

2) Switch to Energy Efficient Appliances

Replacing older appliances with energy efficient models such as LED lights and modern refrigerators can lower power consumption. Efficient devices use less energy to deliver the same performance, leading to noticeable savings on bills.

3) Adopt Load Management Strategies

Scheduling the use of high-energy devices during off-peak hours helps reduce overall consumption. By planning when to operate appliances like washing machines and air conditioners, users can avoid higher tariffs and lessen demand on the grid.

4) Invest in Smart Meters and Timers

Using smart meters and timers allows consumers to monitor and control their energy use. These tools provide real time data on consumption and help in making informed decisions about when and how to use electricity efficiently.

5) Reduce Standby Power Consumption

Unplugging electronics and using power strips can prevent devices from drawing power when not in use. Cutting standby power consumption contributes to lowering overall energy usage and reduces unnecessary costs.

6) Explore Alternative Power Sources

Supplementing grid power with small generators or other renewable energy systems can ease reliance on the national supply. Diversifying power sources helps maintain a steady energy flow during peak tariff periods.

7) Improve Home Insulation and Efficiency

Enhancing home insulation, sealing gaps, and using energy saving window treatments can reduce the need for excessive cooling or heating. A well insulated home maintains temperature better, which in turn reduces energy demand.

8) Leverage Community-Based Solutions

Some communities are pooling resources to invest in shared renewable energy projects or bulk purchase energy saving equipment. These collaborative initiatives can lead to economies of scale, lowering costs for everyone involved.

By adopting these practical measures, Nigerians are finding ways to reduce their electricity bills while ensuring a more reliable and cost effective energy supply.