When I put in my pellet stove I knew the price of the pellets vs the price of electric was going to be the wildcard factor, and I really didn't have any good way of calculating it other than by the amount I spent on pellets to keep the house warm vs. my electric bill.
I'm on the budget plan for my electric, meaning that every month I pay the same amount and it evens out over the course of the year. Every August bill they recalculate it.
This year was the first full heating season with the pellet stove.
I paid about $240 for pellets, with a few bags left over to take me into the upcoming heating season.
Last budget year I was paying $103.99 a month for my electric in an all electric house.
Because last winter was such a mild winter, my heat pump, set at 60 deg., barely ran at all, and never ran when I was at home because I was using the stove.
So, all of that combined means that for the next budget year I'll be paying $73.99 a month for my electric, or $360 less than last year.
That pays for a winter's worth of pellets.
*Had to correct my old monthly bill amount. $109.99 was what I paid, including the cost of water line insurance, which is $7 a month. Had to back that out.
