Tips to Save Money on Your Electric Bill this Winter

Published 02/26 2014 11:03PM

Updated 02/27 2014 08:40AM

Cold temperatures are here to stay in the Summit City and energy prices are on the rise.

In 2003, Indiana had the sixth lowest industrial electric rate in the country. The Hoosier State is now 27th. A recent report from Purdue University predicts a 32% increase in electricity rates for Indiana over the next decade. The report also predicts a stagnant electric demand.

Your electric bill each month depends on a number of factors, including usage, electric rates, and the insulation of your home. Budget billing and energy efficiency tools can help you reduce the cost of your electric bill each month.

Homeowners who use propane have also seen an increase in their heating bill. A shortage this winter cause caused propane prices to more than double between December and January.

Rising electricity costs have prompted the discussion about deregulating Indiana energy suppliers. A recent article from the Indiana Business Journal says that Indiana Governor Mike Pence is discussing whether to include electric-utility deregulation in a new state energy policy. The Pence Administration is considering opening electricity markets in an effort to attract businesses and remain competitive.

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