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20 million US households are paying an average of $788 on their utility bills — here are 3 simple ways to lower your monthly costs


'I expect a tsunami of shutdowns': 20 million US households pay an average of $788 on their utility bills - here are 3 simple ways to reduce your monthly expenses

‘I expect a tsunami of shutdowns’: 20 million US households pay an average of $788 on their utility bills – here are 3 simple ways to reduce your monthly expenses

America Consumer price index in October increased by 7.7% from a year ago — down from a 40-year high of 9.1% in June. But hot inflation continues hit consumers hard.

According to the National Energy Assistance Directors Association (NEADA), about 20 million households in the United States — one in six households — are late on paying their utility bills.

As of August, these families owe a total of about $16.1 billion, with an average debt amount of $788 — and the consequences can be severe, especially when heating costs are high. Indoor heating is expected to reach its highest level in more than 10 years.

Jean Su, senior attorney at the Center for Biological Diversity, told Bloomberg: “I would expect a tsunami to shut down.

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Electricity prices have spiked this year due to soaring natural gas costs. According to the Energy Information Administration, natural gas is the largest source of electricity generation in the United States

The Bureau of Labor Statistics reported that October electricity prices rose 14.1% from a year ago. And just a few months earlier in August, this marker recorded its biggest 12-month gain since August 1981.

According to Mark Wolfe, executive director of NEADA, the country is “moving toward a period of unacceptable energy prices.” Wolfe called on Congress to act to increase funding to offset rising prices.

But if you can’t wait for lawmakers to bail you out, there are some small things you can do to lower your electricity bill. Every bit has a value.

Led light

Compared with large household appliances, light bulbs do not seem to be a big deal in terms of energy consumption. But it all adds up.

According to the U.S. Department of Energy, lighting accounts for about 15% of an average household’s electricity use.

To reduce the light portion of your electricity bill, consider LED bulbs. They consume up to 90% less energy than traditional incandescent bulbs and last up to 25 times longer.

The Department of Energy says that by switching to LEDs, the average household could save about $225 in energy costs per year.

That said, LED bulbs tend to be more expensive than incandescent bulbs. For the most energy savings, look for ENERGY STAR rated LED bulbs.

Sealing and insulation

It will be a expensive winter, according to NEADA. Average indoor heating costs are expected to increase 17.2% this winter — $1,208 on average compared with $1,031 last winter.

This will be the second consecutive year of strong price increases after a 36% spike last year.

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You might consider sealing your home and adding insulation. The U.S. Environmental Protection Agency estimates that by doing so, homeowners can save about 15% on heating and cooling costs, or an average of 11% on their total energy costs.

You can use sealant to seal cracks and crevices around door and window frames. You can also try weatherproofing to seal movable parts like doors and windows.

Dry your clothes

Some clothes require cord drying as it is gentler on specific fibers. But this technique can also save you money.

Clotheslines are obviously much cheaper than gas or electric dryers. And running costs are even lower because it relies on the power of sunlight – for free.

Project Laundry List — a website that promotes the benefits of a clothesline — says switching to a clothesline can reduce your electricity bill by more than $25 per month. Additionally, sunlight can act as a natural bleach and disinfectant.

Washing your clothes in cold water can also save you on your electricity bills.

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This article is for information only and should not be construed as advice. It is provided without warranty of any kind.

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