Because of their ability to monitor their electricity usage daily, Payless Power customers use 27% less electricity than average residential Texas consumer.
The headline is true – the US Energy Information Administration (EIA) has found Texas customers use 1,168 kWh of electricity per month during 2012. Here’s a link to their Excel spreadsheet that shows this statistic, as well as average usage for all 50 states.
However, the average Payless Power customer uses 852 kWh of electricity per month. To be precise, it comes out to 27.05% less energy used. So that’s a 27% lower electric bill annually!
Now, let’s compute that to how much money our average customer saves:
- Going back to the EIA table, the average Texas customer pays 10.98 cents per kWh
- Multiply .1098 by the average monthly electric usage (1168) to get the average monthly Texas electric bill of $128.25
- That’s $1539 annually
- Payless Power customers use 27% less energy than the average consumer through better technology and daily notifications. At the average cost of 10.98¢, a Payless Power customer could save as much as $415.53 annually.
- And divide $415.53 by 12 to get a monthly savings of $34.63 for the typical Payless Power customer
When we talked to customers, they said the same thing over and over again. That statement being that they were able to monitor their usage on a daily basis, which helped them to control their costs.
One of our customers, Allan of Fort Worth, TX sums it up well when he says, “I love the daily text messages! It makes it so easy to be sure that my family is being energy conscious.”
Surveying Prepaid Electric Savings Around the Nation
Another prepaid electric provider, which we won’t name, claims prepaid electric customers are enjoying energy savings of 5-14%.
There’s also a movement in Arizona called the Salt River Project. Its goal is to help low-income customers reduce energy usage and stay current on their bills through prepaid electricity. However, their results were a little mixed, and may have ended up actually costing their customers slightly more money.
MJM, a prepaid electric provider in Illinois, claims customers around the nation experience a 10-12% reduction in their electric bills.
So at the end of the day, it looks like a 27% savings on your monthly electric bill is well above the national average.