FPL Budget Billing (appliances, house, incomes)

[ladyflyfsh]

Does anyone here participate in FPL's budget billing? What are your observations? Does it really save you money in the long run?

I don't know how my electric bill will be in the winter but I can't imagine it will cost as much as summer with the AC, so does it really average out to use this instead of just paying by the meter? Will I save money by switching to this?

Would love to know your take on this....

[Harbor Hopper]

It's not really meant to "save" money. It's meant to average out the bills so you don't have the high spike in the summer A/C months. However, if this winter is anything like last winter, you may be running the heat A LOT, so your bills won't go down much (if at all). Hopefully it is milder this winter.
We don't participate in the program, as I don't trust FPL in their "averaging".

[Skunk Workz]

Originally Posted by ladyflyfsh

Does anyone here participate in FPL's budget billing? What are your observations? Does it really save you money in the long run?

I don't know how my electric bill will be in the winter but I can't imagine it will cost as much as summer with the AC, so does it really average out to use this instead of just paying by the meter? Will I save money by switching to this?

Would love to know your take on this....

As Harbor Hopper pointed out, it doesn't save you any money, since you still have to pay for what you use, they just average the bill each month based on your history. It usually only changes a few dollars each month, but if you have a really large usage month, or a short usage history, then there can be a jump if your average changes.

You still get a bill showing what your usage was, and what your actual bill amount would be. Basically you overpay during the down months, and under pay during the up months.

It's a life saver for us. We have a very old house that has no insulation in the walls, lots of windows (39 windows for 2000 sq ft), and older appliances and central AC units. We also work from home so there is someone here 24*7, and we have more computers and equipment running during the day than the average household would have.

Our bill would get up to around $600 during the hottest couple of months, and down to about $250 during the coolest months. Since we went to budget billing we average around $425 per month.

[FauxPas]

It's good for people on fixed incomes, and lazy people like me. If you bank online set up 11 payments in advance.

[Big House]

Originally Posted by FauxPas

It's good for people on fixed incomes, and lazy people like me. If you bank online set up 11 payments in advance.

I think that is the purpose of why it was set up, to even out the payments for everyone that need that opportunity.

-For myself, I like pay as you go. ((It's like getting a good slap if you flirt too much! :-))) It keeps you in check. ))) If I use a lot, I expect to pay for it, and when the bill comes, it makes you think - is there something that I can do to reduce this. I have the put our system on that voluntary / automatic high peak energy cut back option, and that helps somewhat - I guess.

[rachel.gamberg]

unplug everything in your house that you do not use until you actually want to use it. it works.

[thinkfreeamerica]

does anyone know when the "offpeak hours" are?

[ladyflyfsh]

ok, I understand all this much better now. Thanks for the input everyone! I'm already on the voluntary peak energy cut back thing but was wondering how the budget billing worked out for people.