72% increase in electricity costs!

[brainyblonde]

Rate caps in my area expire 6/30. The legislature failed to act, and the governor's "solution" is a two year phase-in plan that is actually a deferral with interest that will cost the consumer more than taking the 72% hit upfront. Not a solution at all. The "solution" is still subject to approval by the Public Service Commission.

I don't plan to "opt-in" for the "solution" and will take the hit upfront. I am hoping that we will see new electricity providers in this area, and I can shop around for a better deal. I like being able to track our actual usage, so I don't use budget billing, either.

We live in an older home without central air. In the summer, we use two window air conditioners in the bedrooms at night and box fans to circulate air in the rest of the house. We have been planning to replace one of the air conditioners, as it is over 15 years old, and doesn't run as well as it should. We also have an above ground pool with a pump that uses electricity. I am considering the possibility of putting this on a timer. (We use the pool almost daily in the summer, and the kids have a place to congregate, so it is worth the cost.) We have an electric dryer, but the majority of our laundry is hung up on lines to dry. I have replaced all of the light bulbs that I can with CFL. (Sam's Club sells these bulbs at excellent prices!) Cooking, heat and hot water are gas. I think we can weather the increase as long as we're diligent and hope that competition (with lower rates) comes to our area soon.

[canadian gardener]

wowzers Debbie. Well looks like you got a plan to deal with it, but those kinds of increases along with gas prices are hard to fit into a budget in a big jump.

[nodmicks]

Wow! That increase is unreal! Sorry !

[banana]

Wow! That is a major increase! With the gas and oil prices sky rocketing it looks like the electrical rates are heading in the same direction!

[brainyblonde]

Well, I did some research on the internet and found two suppliers that are approved to sell electricity in my area. One appears to be having problems of its own with the Public Service Commission. The other provider had a lot of information and rate comparison charts on the website. I will have to call them to find out what residential rate chart will apply to me, and if the contract is one year or longer.

It IS a lot to absorb at one time, but the alternative phase-in plan will only boost the profits of the utility with the additional surcharges. You must opt-in for the alternative plan, and if you want to get out of it, you'll be paying the higher rate on the back end. It is a no-win for the consumer, as I see it.

We'll just have to learn to conserve as much as we can. I am grateful that that we no longer have credit card debt looming over our heads, that we have an emergency fund, and I have a little extra $ in a freedom account, as well as over $200 in rolled coins should we need it. I have learned a lot from this forum!

[peanut]

WTG Debbie! I can't imagine that big an increase! We just about went snakey up here when they mentioned a 27% increase in natural gas last fall. That would have put a lot of people out of their homes. The government stepped in and told the utility they couldn't do that. We all breathed a sigh of relief. The increase was about 1/3 the original requested.

[brainyblonde]

Thought I'd update on this. After much back and forth on this issue, and a special session of the General Assembly, the rates will be phased in. Intial increase is 15% effective 7/1/06.

Much more realistic, I think.

[kestrel91316]

1) Replace that old AC pronto.
2) Invest in some insulation upgrades, like attic batting or the reflective layer stuff.
3) Look into solar power for the swimming pool pump. You don't use the pool except when it's sunny outside, right?
4) Flat screen computer screen, not big clunky energy-wasting CRT monitors.
5) Give your hot water heater a blankie. They are cheap and easy to apply.