As much as we'd like to leave the worst parts of 2024 behind us, unfortunately concerns around the cost of living are following us into 2025: a massive 79% of Australians told us in a recent survey they're worried about paying electricity bills.
If you’re ready to slash those power bills, it’s time to get forensic with your appliances and your fridge is a good place to start. Sure, it’s not the hungriest beast in the house (your heating and cooling system gobbles up 40% of your energy), but your fridge still chews through 8% of your total energy use.
If your fridge is older or needs repairs, you could be spending a lot more to run it than you would if you had a newer, more efficient model.
How much does a fridge cost to run?
The size of your fridge, and the type, can have a big impact on how much it costs to run. Unsurprisingly, large fridges cost more than smaller fridges to run because of the larger space they have to cool, and newer models are generally more efficient than older ones.
Your massive French-door fridge-freezer may look sleek and be the life of the party when you're entertaining, but depending on the model you own, it could cost twice as much to run as a more modest bottom-mount model.
For instance, in our most recent fridge test we found that one fridge model costs as little as $60 per year to operate, while some more expensive, larger fridges cost up to $195 per year to run. Our fridge reviews include a 10-year running cost for each model, so you can easily compare how much each one will cost you over the lifetime of the fridge.
CHOICE tip: Energy star ratings aren't just for show – they tell you how efficient your fridge is compared to others of a similar size. Choosing a 385-litre fridge with a four-star energy rating could save you up to $950 over 10 years compared to a similar-sized one-star energy guzzler.
How to slash your fridge's running costs
Want to stop your fridge burning a hole in your pocket? There are things you could be doing to help keep your energy costs in check, from ensuring it's placed in a shady spot in your kitchen so it doesn't have to work hard to stay cool, to minimising how often you open the fridge door.
Staring into the fridge while pondering life's mysteries? That's a surefire way to inflate your energy bill. (Looking at you, teenagers.) Find out more ways to slash your fridge running costs.
CHOICE experts conduct a variety of tests in our certified labs to assess the performance of each fridge – here they're testing the uniformity of temperature inside the fridge.
When to say goodbye to your old fridge
Your fridge might be costing you more than you think, especially if it's seen better days. If you notice your energy bills are climbing or your fridge isn't in the best of health – perhaps it feels very hot to the touch or your milk is curdling well before its use-by date – a bit of maintenance or repair might be needed to keep things in order. For optimal performance and efficiency, your fridge's temperature should be set at 3°C in the fridge and -18°C in the freezer.
Check the temperature with a fridge thermometer and check it regularly – if your fridge doesn't respond well to the change in the temperature of your kitchen, you may need to adjust it manually. Learn more about fridge temperatures.
If tweaking the temp doesn't work, the seals or thermostat may need replacing. Depending on the age of your fridge, this could be a good or bad investment: here's how to figure out if it's cheaper to repair or replace your fridge.
If you've tried everything to save an older, power-hungry fridge and the cost of potential repairs just doesn't add up, it might be time to say goodbye. Upgrading to a newer, more efficient model might hurt upfront, but your wallet (and your groceries!) will thank you in the long run. If you're in the market for a new fridge, don't forget to check CHOICE reviews to ensure you're getting the best performing model for your money.
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With no self-interest behind our advice, you don't just buy smarter, you get the answers that you need.
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Stock images: Getty, unless otherwise stated.
