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Our friends at LearnVest offer sound financial tips and advice for every aspect of life. Here’s the latest on saving money this summer.
Some summertime savings could be headed your way as new energy projections show a decrease in electric bills this summer, The Wall Street Journal reports.
According to the U.S. Energy Information Administration, the average household will pay $395 for electricity in June, July and August, a solid 2.5-percent decrease from last summer. Assuming these projections hold true, this will be the third summer in a row with lower electrical spending.
But unlike the last two summers, this drop in bills has nothing to do with lower electricity rates. Lower temperatures are the reason Americans use less air conditioning and pocket some extra cash. After three blistering summers, government forecasters are saying that this summer’s temperatures will align more with the average levels.
Since air conditioning is the main culprit for larger electricity bills in the summer, households can turn off their AC units and find other ways to cool off homes, causing the average usage to fall by a projected 4.6 percent.
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Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.