Friday, October 31, 2008

Tracking my electric bills in a spreadsheet


This story takes place in November of 2007.

I'm extremely well organized when it comes to my personal finances. I have a two drawer file cabinet containing every bill I've paid going back to 2003. I had even more but decided to shred everything older than five years. I decided to take a look at my electric bills and plug everything into a spreadsheet.

I created the spreadsheet in Microsoft Excel. I entered all the information I had including kWh totals for each month, total cost of each bill, cost per kWh, averages for the entire year, etc. What did it reveal? Basically that I've been wasting electricity like crazy! Take a look at the insanity:

2003
A total of $2,310.06 spent averaging $192.51 a month.
A total of 27,917 kWh averaging 2,326 kWh a month.
Average cost per kWh was 8.3 cents.

2004
A total of $1958.97 spent averaging $163.25 a month.
A total of 23,475 kWh averaging 1,956 kWh a month.
Average cost per kWh was 8.4 cents.

2005
A total of $2,225.04 spent averaging $185.42 a month.
A total of 23,729 kWh averaging 1,977 kWh a month.
Average cost per kWh was 9.4 cents.

2006
A total of $2,342.34 spent averaging $195.20 a month.
A total of 22,279 kWh averaging 1,857 kWh a month.
Average cost per kWh was 10.5 cents.

2007
A total of $2,438.48 spent averaging $203.21 a month.
A total of 23,180 kWh averaging 1,932 kWh a month.
Average cost per kWh was 10.6 cents.

How can two people use THAT much electricity? Not only were we wasting an enormous amount of electricity, but due to the rising costs of gas and coal, the cost per kWh was rising resulting in higher bills.

To give you an idea of how successful I've been in reducing my electric bill, for the 10 months of this year our totals are currently:

2008 (January to October)
A total of $1,495.14 spent so far averaging $149.51 a month.
A total of 13,389 kWh used so far averaging 1,339 kWh a month.
Average cost per kWh is currently 11.2 cents.


For an updated view of my progress click on the picture of the spreadsheet above, or click here, or on the "My Power Bill Spreadsheet" link in My Favorites on the sidebar.

I'll be posting more of the steps I've taken to reduce my electric bill soon....

1 comment:

Brad Carter said...

Thanks Eric, I've been looking for a template like this. We are not satisfied with all the estimating our electricity provider does: only one actual reading per quarter! We will start tracking our own usage and plugging it into your template.