Electricity

[Helena]

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I'm curious about the average monthly electric use/cost for retirees.

I know it depends on location, weather, size of home, etc...

The reason why I ask... I live in Texas... love my a/c and don't spare running it for at least half the year. I have electric kitchen and electric dryer [other heating is gas] for my 2200 sq ft home. Yet I have been told my electric use is well below average.

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[Meadbh]

There are too many variables (climate, type of construction, personal habits) to make this a meaningful comparison. For what it's worth, I live in a modern condo with an air exchange system and have very low electricity bills compared to similar homes in my area. My neighbours must all be washing loads of hockey jerseys, or something.

[FIREmenow]

1000 sqft end-unit townhouse. 100% electric. Heat pump. Raleigh, NC.
Thermostat set to 73 home, 78 away in summer and 68 home, 62 away in winter.
"Away" is ~12hrs/day. Very little "cooking" at home.

• Spring/Fall - Ave $35/mo (6mos)
• Summer - Ave $60/mo (4mos)
• Winter - Ave $70mo (2mos)

[Helena]

Quote:

Originally Posted by Meadbh There are too many variables (climate, type of construction, personal habits) to make this a meaningful comparison. For what it's worth, I live in a modern condo with an air exchange system and have very low electricity bills compared to similar homes in my area. My neighbours must all be washing loads of hockey jerseys, or something.

lol

Thanks for the laugh.

You're right, too many variables... but I'm still curious what I am doing right.

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[braumeister]

Meaningless to list costs without including all the details.
Home size, type of construction, year built, type of heating system, local rates and taxes, etc. all come into it.

Moved last year from an all-electric SFH to an all-electric condo not far away, didn't change our thermostat settings or other habits, and our electric usage dropped by nearly 50% on average, so I'm happy.

[Helena]

Quote:

Originally Posted by FIREmenow 1000 sqft end-unit townhouse. 100% electric. Heat pump. Raleigh, NC. Thermostat set to 73 home, 78 away in summer and 68 home, 62 away in winter. "Away" is ~12hrs/day. Very little "cooking" at home. Spring/Fall - Ave $35/mo (6mos) Summer - Ave $60/mo (4mos) Winter - Ave $70mo (2mos)

Your stats are much lower than mine.

I've been looking for a smaller home.

But real estate prices here in Dallas have risen so much recently, it is cheaper to stay here.

Btw... I read recently... that one of the good habits of self-made millionaires is staying put... because moving is expensive.

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[ugeauxgirl]

I also read that one of the secrets of millionaires is that they stay put, but the way I read it was the reason that was such a wealth builder is that they didn't continually upgrade to a more expensive house and neighborhood.

[Helena]

Quote:

Originally Posted by ugeauxgirl I also read that one of the secrets of millionaires is that they stay put, but the way I read it was the reason that was such a wealth builder is that they didn't continually upgrade to a more expensive house and neighborhood.

You're right.

Also self-made millionaires tend to drive modest older cars.

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[Mulligan]

About 1550 sq ft ranch near Stl Mo. so we catch the full brunt of summer heat and humidity like Dallas does I am sure. Run A/C all day at 72-3.. Lazy dont use the programmer. But at night raise thermostat and blast a window a/c unit all night in bedroom to keep things nice and cold while sleeping. Highest summer bill was $110 this year. It will be dropping fast though.
As long as MO isnt interested in sending coal miners to the unemployment line we should enjoy cheap electricity.
Winter is even cheaper, as I have natural gas heat. For me electric and heat bills,despite living in a hot summer colder winter zone, are a total non issue. I spend more on my cable than I do this.

[Bamaman]

Quote:

Originally Posted by ugeauxgirl I also read that one of the secrets of millionaires is that they stay put, but the way I read it was the reason that was such a wealth builder is that they didn't continually upgrade to a more expensive house and neighborhood.

Where we live, the millionaires will have a big house in town, a second house out on the lake and another house in Florida.

And one of the local super wealthy families has the 82nd floor penthouse of Trump Tower in Manhattan--sharing the floor with Donald Trump.

They don't worry about electricity rates.

[FANOFJESUS]

1300 Sq. ft
9 months $45 a month
3 months $200 a month 1973 AC to blame

[Silver]

Since retiring in 2010 I have tracked many things...electricity and water being just two.


With electricity, I do it monthly, using the total monthly cost (including the taxes which have remained consistent) divided by the total kilowatt usage to get the average cost per kilowatt hour. This helps me know if there is a cost increase overall.


A/C used on average 8-9 months a year. Zero heat needed. Average cost per month for a 1800 sq ft house (no pool) in 2015 in central Florida was $162.50/month.

[Helena]

Quote:

Originally Posted by Bamaman Where we live, the millionaires will have a big house in town, a second house out on the lake and another house in Florida. And one of the local super wealthy families has the 82nd floor penthouse of Trump Tower in Manhattan--sharing the floor with Donald Trump. They don't worry about electricity rates.

We were not referring to the super wealthy who inherited money who won the lottery or who created a .com and sold it for millions. We were referring to average middle class people who over time become millionaires by living smart and frugally and saving money.

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[pb4uski]

Quote:

Originally Posted by Helena . I'm curious about the average monthly electric use/cost for retirees. I know it depends on location, weather, size of home, etc... The reason why I ask... I live in Texas... love my a/c and don't spare running it for at least half the year. I have electric kitchen and electric dryer [other heating is gas] for my 2200 sq ft home. Yet I have been told my electric use is well below average. .

Ours averages $70/month when we are here and $25/month when we are down south, but no AC here. Our second home averages $25/month so far but I think it'll be more like $50 once we start spending time there.

[COcheesehead]

Our provider is Xcel Energy. They provide a comparison of our usage versus our neighbors and also our "energy efficient" neighbors. Nice tool for comparison. Check to see if your provider may do the same. It may be online only.

[Gumby]

I track our utility costs. We are in a 160 year old, 2505 sqft home on the coast of Connecticut. We have hot water radiators for heat and the hot water heater is simply another "zone" on the main heating system. We have window AC units for the bedroom and office, which we use in July and August.

Natural gas fired furnace, stove-top and clothes dryer. Electric for the lights and other traditional electric needs, such as the fridge, wall ovens, the washer, dishwasher, window AC units and the circulating pumps in the heating system.

Our electric bill peaks in the summer and our gas bill peaks in the winter. In 2013, we averaged $98 per month for electric and $132 per month for natural gas; in 2014, we averaged $102 per month on electric and $139 per month on natural gas. In 2015, we averaged $108 per month in electric and $130 per month in gas.

[Bestwifeever]

Quote:

Originally Posted by Helena . I'm curious about the average monthly electric use/cost for retirees. I know it depends on location, weather, size of home, etc... The reason why I ask... I live in Texas... love my a/c and don't spare running it for at least half the year. I have electric kitchen and electric dryer [other heating is gas] for my 2200 sq ft home. Yet I have been told my electric use is well below average. .

What is your average monthly electric use/cost?

[mpeirce]

AEP Ohio provides some nice graphs of usage (we have a good sized four bedroom home with gas heat that switches to electric heat pump when the temperature is mild):

[W2R]

Quote:

Originally Posted by Helena . I'm curious about the average monthly electric use/cost for retirees. I know it depends on location, weather, size of home, etc... The reason why I ask... I live in Texas... love my a/c and don't spare running it for at least half the year. I have electric kitchen and electric dryer [other heating is gas] for my 2200 sq ft home. Yet I have been told my electric use is well below average. .

I moved from a 1600 sf house to a 1500 sf house in 2015. Since I live in New Orleans and like to be comfortable, my AC is running almost constantly in the summertime.

BUT, and this is important, there is only one of me! No hubby holding the fridge door open looking for snacks, no kids running in and out and leaving the back door open, nothing like that. It would be SO much harder with a family in the house, and so I don't think I'm necessarily doing all that well in keeping my electric bill down.

AVERAGE MONTHLY ELECTRICITY BILL:

2012: $83/month
2013: $95/month
2014: $93/month
2015: $64/month

[Cobra9777]

* North Texas
* 4500 sqft house, 50 years old
* 4 HVAC units, all 15-20 years old (2 get used only when needed)
* Thermostats set at 78 summer 68 winter (when home)
* Furnaces, water heater, and stove use natural gas
* Pool and spa (2hp pool pump runs 12 hrs/day; spa stays at 102 degrees)
* 2 refrigerators, stand-up freezer, mini fridge, and stand-alone ice maker
* Woodworking shop buzzes about 8 hours per day
* Early 80s electric clothes dryer
* Electric rate is just under 10 cents per kWh

Low in the winter is around $250/mo. Average in summer is $450/mo. In extreme heat, it can be as high as $700. This is one reason downsizing is in our future.