Power Lines in Suffolk EnglandCredit: By Tony Boon (FujiFilm S7000) (http://www.tonyboon.co.uk) [GPL (www.gnu.org/licenses/gpl.html)], via Wikimedia Commons

Even in the best economic times, all of us are looking for ways that we can save money throughout the year. Since utility bills are among the most significant, recurring expenses in our budget, it certainly pays to find ways to spend less on water, gas, electricity, and the other utilities. Of all these bills, it is perhaps easiest to save money on electric services to your home or business.

Saving money on electricity is not that difficult and it can be done without compromising your comfort or access to necessary power. Here are just a few steps to help you save money on your electric bills so that you have more funds to spend elsewhere.

Install Adequate Insulation

Energy experts agree that homes with properly installed insulation will keep the cool air in your building during the summer and the warm air in your building during the winter. On account of this, your air conditioning and heater will not have to work as hard during those seasons.

Look Into Power Company Money-Savers

Ask your utility companies if they have any special money-saving programs available to their consumers. Electric utility companies will often be able to install special devices that can temporarily cut off power to certain appliances in your home (i.e., refrigerators, air conditioners) and yet not cause any discomfort. Customers who sign up for such programs get a reduction in their energy rates. Among the most important tips on saving money on electric bills, this one is most often forgotten.

Monitor Your Thermostat

Change the settings on your thermostat and you will save money on electric services. During the summer, a thermostat set at 78 degrees or higher will result in less costly air conditioning bills. Keeping it at 70 degrees or colder in the winter will save you money on heat, just be sure to wear a sweater!

Additional Money-Saving Tips

• Many electric companies will allow you to even out your bills over the course of a year to result in bills that are the same from month to month. You'll pay more than you need to in the winter and less than is required in the summer, and though you will not save money on energy this way, it will be easier to budget your utility expenses.

• Beware of outside companies that claim to install devices that can save money on electric services. These devices do not always allow you to significantly save money on electric bills, and they might interfere with your utility company's equipment.