This summer has been really expensive for a lot, I know, with the extreme heat being in the 100's for months. Personally, I have not experienced the heat and am not disappointed. A few years ago, when money was really tight while we were doing our debt snowball on Dave Ramsey's plan, I sought to find ways to cut down as many of the variable costs. I wanted to apply as much on our snowball as possible to get out of debt quicker. After doing some research, I was surprised to find out that our electric company had peak rates & non-peak rates for usage.
It is so "normal" to come home from work & do laundry, dishes, cook dinner, have all the lights on in the house, be watching t.v., etc. What I found was that the "peak rate" (the highest rate) is between 4:30 p.m.-10:30 p.m. Hence, the electric company is making the most of their cash during this time of day!!!! So, when is the cheapest time of day? Noon-4:30 p.m. AND 10:30 p.m. - 5:30 a.m. From 5:30 a.m.- noon, it is 2x higher than the cheapest time of day per a kw. So, the peak rate is almost 5x higher than the cheapest time of day!
Do not think that I am the "Electric Nazi," when it comes to being disciplined w/ avoiding the peak time of day! I am not consistent in avoiding the peak time of day to do my dishes, cooking/baking, & laundry, but I'm aware of it! Sometimes, I will stay up late to do some laundry after 10:30 at night.
****This information may not apply to you, but check it out! I know some in TX get to choose their electric company! While others are treated like my water company, in that the more kilowatts used, the higher the charge on the pyramid to reduce consumption.
To find more ways to cut down your electric bill, check out this site:
michaelbluejay.
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