If your electric bill is rising, you’re not alone. Millions of Texans have experienced a troublesome surge in energy prices. This issue started since 2020 and is making Texans wonder how to get lower electric bills.
There are several reasons your electric bill may have risen over the last few years. Many of them, like inflation and the rising cost of energy globally, are beyond your control.
However, luckily electricity bills not only depend on electricity rates. There are still plenty of easy ways to lower your electric bills. Learning how to save energy and reduce costs.
To help you cope with the rising cost of Texas electricity, EnerWisely got you covered. Get help with personalized tips to improve your home’s energy efficiency and save money on electric bills.
Why is My Electric Bill So High?
Rising electricity bills are usually driven by demand. Summer heatwaves can place excessive strain on the energy grid. This is because millions of AC units are all buzzing simultaneously for up to 18 hours a day.
Yet even when controlling the demand, there’s no doubt that Texans are paying more for electricity than they used to. Here are some of the other factors that contribute to the rising cost of electricity across the state:
Inflation
Inflation is a problem for all sectors of the economy. According to the Bureau of Labor Statistics, the consumer price index has risen more than 8% the last year. To counteract inflation, the government is raising interest rates which can also impact monthly bills.
These increases in prices are felt in multiple monthly expenses including car insurance, streaming services and many others.
The energy sector has been hit particularly hard. Compared to September 2021, consumers in the U.S. pay almost 24% more for energy in 2022.
This rate is very high, and there are many global factors contributing to this.
Unfortunately, for those wanting to save money on electric bills, they are not controllable. The increases due to these factors aren’t going anywhere soon.
Skyrocketing Demand
Demand in the summer of 2022 was higher than ever seen before in Texas, thanks to multiple factors. ERCOT grid has done a great job keeping up with this demand. However, it’s a basic economic principle that as demand rises, scarcity ensues, and the price of a product will rise.
Increasingly Volatile Weather Forecasts
Weather is becoming more extreme. For a state like Texas, which is so large, it contains a few different microclimates. For this reason, it can be extremely difficult to make accurate weather predictions that cover the entire grid.
As hurricanes, heatwaves, and blizzards are becoming more common. So, energy producers and sellers are increasing prices to hedge their profits against possible weather events.
Energy Efficiency and other Easy Ways to Lower Electric Bills
Many components of rising Texas electric rates are outside of anyone’s control. But still, there are many cost reduction actions you can take to get lower electric bills.
As an Energy Star partner, EnerWisely provides the tools to help you understand and improve your home’s energy efficiency.
Energy Star, is a program of the Department of Energy of the United States. By implementing cost savings actions, you can cut costs and help your bottom line.
Do a Home Energy Audit
The first and most important is to learn where your home energy issues lie. To find out, do a home energy audit and receive a home energy score.
EnerWisely home energy audit includes a carbon footprint assessment to see your environmental impact.
As the smart tool to save money and electricity, EnerWisely explains the factors that affect your energy score. It will also suggest ways you can improve your energy efficiency and lower electric bills.
To learn more about how to do a home energy audit, read this helpful guide.
Other cost saving actions include:
Identify and tackle Energy Vampires:
An energy efficiency audit can help reveal these wasteful energy drainers. Things like appliances and outlets running while they are not in use can rise your bills.
Conserving Energy:
Tackling energy vampires and conserving energy are twin brothers. Simple adjustments like not letting your faucets in hot water position even when they are close can help.
Properly Insulating Your Home:
The importance of proper insulation cannot be overstated. Checking the caulking around windows and weather strips below your doors can help lower your bills.
Preparing for Extreme Weather:
Knowing when bad weather will hit, can help you take steps to avoid emergency energy usage. Checking regularly your HVAC system, water heater, washing machine, fridge and freezer can help.
Shifting Usage to Off-Peak Hours:
With the right plan, a simple change in your schedule could reduce your bill.
Whether you use energy in a home or business, EnerWisely can help you lower electric bills with customized tips for you.
How to Get Cheap Utility Bills
As it is the case with Auto Insurance, lowering your electric bill could be as simple as switching to a better plan. For example, time of use electricity plans that offer free nights or weekends could save you thousands of dollars per year. But it would really depend on your consumption profile
With so many electric companies in Texas, it’s very important to compare. And it is even more important to choose right.
Our plan matchmaker is the best online tool to get lower electric bills. By comparing all plans available based on your home’s consumption to match you with the lowest cost.
Not only EnerWisely finds the best deal available but also is easy to use and quick.
Cheaper Electricity Bills Are Possible
Don’t let inflation, rising demand, or climate change make your energy bills go out of control. As our article hopefully demonstrates, there are still lots of ways to save money and improve your home’s energy efficiency.
Ready to get the cheapest electricity plan plus customized tips to start saving money in your electric bills? Get started with EnerWisely today.
