Our rates haven’t increased, but usage sure did! The extreme cold we experienced in January caused an extended spike in energy consumption, leading to higher bills. When you review your January statement, please keep in mind that January 2024 was 34% colder than January 2023.
The graph above shows the low temps in January. The red line represents 32 degrees. Most days in January were at or below freezing with little to no sun.
On average, it takes up to 4 times more energy to heat your home with an electric furnace than to cool with central air conditioning. Raising the thermostat by one degree over the course of a month could increase the heating portion of your bill by 3%.