How To Cut Your Electric Bill

Monitor Your Electric Usage
There are certain variables such as location, that determine what the price of electricity will cost cost per month. Some of these variables we can not control.

However, we can monitor our electric usage and conclude what our utility company is charging us.

You can monitor your electric costs with an inexpensive gadget. The results will surprise you.

Measure Kilowatt Hours
After the guy reads the meter here’s what I do. I’ll go outside and write the numbers down. Then, I’ll subtract last months’ usage from the numbers I just read. This will give me a good indication how much wattage that we used. This method is very accurate if you keep thorough records.

What is a kilowatt hour?

A Gadget That Monitors Your Electric Usage

P3 International P4400 Kill A Watt Electricity Usage Monitor

Residential Electric Rates By State JAN 2011

Most Expensive Electric Prices [Cents per kilowatthour] [Deregulated, yes or no]
1. Hawaii – 30.13 (no)
2. Connecticut – 18.03 (yes)
3. New York – 17.40 (yes)
4. Alaska – 16.61 (no)
5. New Hampshire – 16.34 (yes)
6. Rhode Island – 16.21 (yes)
7. New Jersey – 16.14 (yes)
8. Vermont – 15.79 (no)
9. Maine – 15.78 (yes)
10. California – 15.30 (yes)

Most Cheapest Electric Prices [Cents per kilowatthour] [Deregulated, yes or no]
1. North Dakota – 6.92 (no)
2. Nebraska – 7.72 (no)
3. Arkansas – 7.77 (yes)
4. Idaho – 7.83 (no)
5. Louisiana – 7.94 (no)
6. Washington – 8.02 (no)
7. Oklahoma – 8.06 (yes)
8. Missouri – 8.16 (no)
9. Utah – 8.17 (no)
10. South Dakota – 8.24 (no)

Electricity costs weigh heavily on the budget of many families, and many consumers are just wanting to get the most bang for the buck. The more one understands how the process works, the better a customer can manage utility costs. Monitoring utility costs by state is a good way to track increases or decreases. What a consumer should be aware of is the price of electric per kilowatt hours. That price varies by location. Obviously, some states have higher rates than others.

Is there a website to track electricity prices per kilowatt hours? You bet! The U.S. Energy Information Administration publishes a Electric Power Monthly, which gives Average Retail Price of Electricity to Ultimate Customers. Not only does this page list residential rates, it also lists commercial rates, along with other valuable information.

Have electricity prices changed within the last several years? The answer is yes. For the most part the changes have not been that dramatic.

However, keep in mind that deregulation has played a major role in states that have been hit really hard with skyrocketing utility bills. This list does not attempt to cover what has happened concerning deregulation. Nor does this list cover the thousands of utility shutoffs rising in states like Michigan, New York, Pennsylvania, Florida, and California.

I quickly glanced at the rates between 2008 and 2011. It appeared to me that the more expensive rates had actually gone down somewhat. For example, Hawaii went from 36.94 to 30.13 cents per kilowatt hours. This varied from state by state.

Some, if not many states with cheaper rates showed an increase. For example, Kentucky and West Virginia showed an increase. They are no longer in the top ten least expensive category.

Overall, there was not a huge difference in rates. But I do believe it’s time to consider putting together other alternative energy systems. Solar panels, wind turbines, and other energy saving devices are starting to look more attractive as time passes by. Not to mention the inconveniences brought about by numerous power outages.
Source: U.S. Energy Information Administration

Note: Estimates are calculated by the EIA. Prices may vary accordingly.

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Image: Stuart Miles / FreeDigitalPhotos.net