"Shut the door. The air conditioning is on!"
These familiar refrains echo through the halls of many American homes with children who don't know about the costs of electric service.
But did you know that the time when you use electric appliances can save you more money than how often you use them?
Parul Goel, a working mother of two young daughters, found out her electric company charges five times less for electricity during off-peak hours. So like any frugal-minded consumer, she decided to "buy" her electricity when it was on sale.
Bankrate: How did you find out about the difference in rates?
Parul Goel: I was going through my monthly bills from PSEG (Public Service Enterprise Group), and I noticed there were two rows on it -- on-peak charges and off-peak charges -- and I saw that my off-peak usage was very, very low. So I called them up, and I asked them what is the difference between these charges?
Bankrate: Were you surprised by what you found out?
Parul Goel: Absolutely! I didn't have to sign up for any program. It came as a standard package, but they don't tell you about it. You call them up and ask them questions, and that's when they tell you that there is off-peak usage from 9 p.m. to 7 a.m. and you'll be charged five times less.
