Friday, July 8, 2011

Frugal Friday: Set Your Electric Bill to "Equal"

Whew! It's summer, and it's HOT! We're quickly approaching that time of the season when we have been putting off turning on the air conditioner but cannot hold out much longer, even if it means facing that pesky accompanying electric bill.

This a great time of the year to call up your electric or utilities company and have them set your account to "Equal Pay". This is a program in which the company providing your electricity (in some cities, this bill includes water, sewer, and trash fees) looks at your usage for the past year and arrives at an estimate of how much electricity you will be using in the coming year. They then take this estimate and divide it by 12 months to come up with your new "fixed" monthly charge.

The great thing about this is that you will no longer have to guess each month how much to budget for electricity. And the perk of doing this in the summer (or the season in which you use the most electricity) is that you will see your bill go down immediately to a lower amount than you usually pay in a summer without equal payments!

Keep in mind, you will still want to be mindful of your electricity use. If you use more than what the company estimates for you, they will ask you to pay the difference the next time they are scheduled to estimate your use for the following year. On the converse, if you use less than what they estimated you would, they will credit your account accordingly.

The temperature is going to rise but your bill doesn't have to. Sign up for equal payments with your utilities company!

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