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How the credit crunch will affect your energy bills (and what you can do about it)

26 January 2009 19 views No Comment
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A general question that gets asked more often than you think is “because of the recent crappy credit market (and weak economic climate) what will happen to my energy bills? Will they increase?”

The answer, unfortunately, is a sound “I don’t know.” Givent he current market conditions, and weak economic forecast with signs of continued slowdowns, energy prices may continue to actually fall depending on the market volatility. This is welcome news for consumers, as their bills may actually be lower.

However, this is typically not the case. During times of economic recession, prices may actually stay the same or rise to counteract rising costs elsewhere. Considering that in many areas, energy supply is at least somewhat market and more government regulated, it is more important than ever to have programs that ensure people who need energy the most continue to receive it.

This could actually cost you more money, either in your energy dollar or in your taxes.

Now, that said, the best way to make sure your energy bills stay low is through conservation. You can not be billed for energy you do not use. And remember that energy charges are always a double hit – you get billed once for commodity, and once for the delivery of the commodity. They are always at different rates, but they are billed twice nonetheless.

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