Saving Money on Utility Bills Starts with Understanding Them By IBT Contributor 02/24/21 AT 6:43 PM As people around the world approach the end of a full year largely spent at home, the costs associated with utility bills might be top of mind. From powering electronics, to cooling homes in the summer and heating them in the winter, spending time at home has financial consequences. The US Energy Information Administration estimates that Americans use an average of 887 kilowatt-hours of electricity every month. This translates to an average monthly bill of $115, with rates ranging from 9 to 32 cents per kWh. When coupled with water consumption, costing about $70, it adds up.