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How to save money on your power bill with the rising cost of energy

As temperatures heat up over the summer months, your energy bill may go up too. Experts say energy costs are up 70% in the last year.

HOUSTON — Temperatures are rising in Texas and we could see triple digit heat this weekend. Unfortunately, the cost of keeping the air conditioning on is up too.

Fred Purches works with EnergyBot, a company out of Dallas that tracks energy prices.

“Especially over the last couple of months, energy prices have really started to jump up. If you compare energy prices today, if you were to sign up for a new plan to what they were a year ago, they’re up over 70%,” he said. “This is really going to impact everybody.”

Purches explains energy costs are up for the same reasons we’re paying more at the pump. He says the way to save money is by shopping around for the best plan.

If you think prices may be better in a few months, you can go with a short-term plan. Although it gives you the flexibility to shop for a new rate sooner, those plans are typically more expensive.

Long-term plans lock in today’s rate in case prices go up even more in the future.

“I will go with a long-term plan. My plan is up in a couple months, and I’ll be locking in a long-term plan. For me personally, I don’t think energy rates are going to come down,” Purches said.

Another tip is to read the fine print, even though a lot of energy plans have long, confusing contracts. If one seems too good to be true, it probably is.

The other way to keep your utility bill lower is by using less energy. Experts suggest using fans instead of air conditioning as much as possible, switch to energy saving light bulbs and use cold water to wash your clothes. Most of the energy is used during laundry is from heating the water.

Stephanie Whitfield on social media: Facebook | Twitter | Instagram

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