Summer is winding down and winter will be here before you know it. Lock in a price cap for your heating oil or natural gas when prices are low to protect yourself from rate hikes over the coming months. Check prices at your supplier’s website.
Some utility companies charge a lock-in fee. Most don’t, but be aware of this and ask.
You can save over $500 on energy costs—if prices climb significantly. Because you’re taking a cap and not paying a fixed price, you won’t lose out if prices drop, as they did last fall.
At the moment of this writing, the wholesale price of crude oil continues to drop. This is finally allowing for some noticeable relief at the gasoline pumps. Although, the price is still significantly higher than it was a year ago, and consumers are still feeling the effects via higher prices in other goods and services.
This is not a time to be complacent however.
The only way that energy prices will continue this downward trend – or even maintain their current prices – is by continued fuel conservation and greater pushes toward alternative fuels.
If you learned to drive less when gasoline was over $4 per gallon, you should continue that trend even as the prices drops closer to $3 per gallon.
When it’s time to replace your vehicle, it will be in your best interest to purchase the most fuel efficient model that fits your needs. Or, preferably, a hybrid.
All indicators are that fuel prices will return to their upward trend at some point in the future – probably sooner rather than later. Don’t get caught unprepared.
Enrolling in load management programs and off-hour rate programs offered by your electric utility may save you up to $100 a year in electricity costs.
While details may vary between power companies, these load management programs will usually consist of shutting off power to your home – usually for no more than 10-15 minutes – during times of very high power usage. Additionally, the “shut off” will usually only be during certain peak-usage hours.
Call your electric utility for information about these cost-saving programs.