Calculating your monthly energy rates can be initially unclear. To estimate your monthly cost, use this simple formula:
Monthly Usage (kWh) x Electric Rates ($/kWh) = Approximate Cost per Month
For example, suppose your household uses an average of 1,200 kilowatt-hours (kWh) each month, and your electric rate is 9.8 cents per kWh ($0.098/kWh). Your estimated monthly cost will be $117.60, plus or minus any usage discounts or upcharges. Then, be sure to factor in your utility company’s monthly delivery and usage charges for failing to meet any tiered threshold for the most accurate estimates.
Bottom line: Hidden fees and requirements can make a good deal turn bad. Sometimes, the best electricity deals might not include looking for the best new promotions. It might instead be working with your family to reduce your electricity usage.
To discover the best energy deals near you, enter your ZIP code today and determine if switching is in your best interest.