Clark Howard's Tips
Surviving this summer's coming spike in electricity pricesMay 7, 2008
The price of electricity is set to rise over the summer, especially in warmer climates. That's due in part to spikes in the price of natural gas and coal, which are both used by power providers to generate electricity.
So are you a sitting duck? No way, not any day. Clark thinks about the example of California. State residents suffered greatly in the '90s from illegal activity in the regulation of energy prices. So they retro-fitted their homes and turned up the thermostat. Those actions led to long-term benefits in lessened consumption.
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CLARK'S TIP TOPICS
Find more consumer advice in Clark Howard's book, "Get Clark Smart" |
Here's how you can prepare for the coming electricity price crunch: -- If you have an attic, be sure to insulate it. You can either pay a professional to do blown-in insulation or do it yourself with the rolls. Be sure to wear proper gloves and a mask if you do the latter. -- Sweat a little to save a lot. Bump up the temperature and use a setback thermostat -- or closely monitor temperatures yourself. -- Don't change your windows thinking that you'll get a payback; caulk them instead. Weather-stripping will also make a big difference. -- Install CFL bulbs. Every CFL bulb you put in will save $30 to $50 over the lifetime of the bulb. LED bulbs promise even greater savings, but they aren't yet ready for home use. You may, however, see LED bulbs being used in traffic lights right now.
