How to estimate electrical bills

Updated February 21, 2017

You can easily calculate your own electrical bills by using a few web-based calculators or by asking around where you live. By monitoring your own usage, you can also see where you may be able to cut corners to lower your bills. By asking your neighbours for some estimates, you can be ready for that bill and what you may have to pay for using electricity in your home.

Ask the electric company to give you statistics about the same period last year. They can tell you your energy usage from a year ago and you can then calculate an estimate using this year's current electric rates. This will give you a good idea of how much your bill will be when you get it in the mail. Some companies have that information for you on your bill, so you can look at your usage for the past 12 months.

Use an electric bill calculator. You can use the one on the Saving Electricity website. It is able to estimate how much electricity you use by multiplying the amount of kilowatt hours used by an average cost of electricity. It can also tell you how much electricity you use based on your appliances and give you a breakdown of how much each one costs you to use per month.

Keep track of your own electricity. Using the read date located on your bill you, too, can track your daily and monthly usage to estimate what your bill will be. Not only can you easily read your own meter, but the cost of your electricity is clearly noted on your bill. Just take your monthly usage and multiply it by the cost and add service charges to get a very accurate picture of what your next bill will look like.

Speak to neighbours with similar size homes to get an estimate of how much your electric bills will be. If they have been living there for awhile, they can give you an idea of how much they are paying. You should also ask about their habits regarding their air conditioner usage and the temperature they like to keep their home at for a more accurate estimate.

Ask your apartment complex manager how much electricity costs in their buildings. Many of the employees live on site, so they can give you a pretty good estimate of how much electric will cost you. If your appliances are older, expect the costs to be higher than if they were new.

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About the Author

Christian Mullen is a graduate from the University of Central Florida with a bachelor's degree in finance. He has written content articles online since 2009, specializing in financial topics. A professional musician, Mullen also has expert knowledge of the music industry and all of its facets.