English: Hydro-Quebec electric meter (Photo credit: Wikipedia)
Financial IQ Philippines Quick Hit(s):
If your gut feel tells you that your utility bill is unreal, it may be worth your time to get confirmation with the utility companies. You may just end up saving a lot, similar to the story of the Texas lady. :)
We all dread opening an electric bill, especially when air-conditioning drives up costs and maxes out a family budget.
But Kristin Harriger's recent electric bill was beyond shocking. Rather than a bill for $100 or so that the single mom from Abilene, Texas, was expecting, she was billed for $1,381,783.92, according to the Business Insider.
"I opened it. I read it. Then just went, 'Oh, my gosh. That's a lot of money," Harriger told the Abilene Reporter News.
She thought it was a joke at first, and even shared photos of the bill with her friends.
After contacting her utility company, Potentia Energy, she discovered it wasn't a joke, but a computing error. Rather than charging her the normal 9 cents per-kilowatt-hour rate, the utility charged her $1,000 per kilowatt hour.
The $1,000 per-kilowatt-hour rate is far above the best offer available to her. The Public Utility Commission of Texas website PowerToChoose.org shows that Abilene residents can get 8.2 to 12.1 cents per kilowatt hour, notes the Abilene newspaper.
"I'm glad I didn't have autopayments," Harriger told the Business Insider.
The utility company acknowledged the mistake and has told Harriger that a corrected bill would be sent to her.
http://news.yahoo.com/blogs/sideshow/texas-woman-hit-1-3-million-electric-bill-165517099.html
Why is Financial IQ important in Philippines? Financial IQ is extremely important not only in the Philippines, but in the entire world. With solid Financial IQ, better financial choices are made. With good Financial IQ, money works for us. With excellent Financial IQ, we can easily find business opportunities in Philippines. With excellent Financial IQ, we can ride the growth of Philippines stock market. With great Financial IQ, we can gain Financial Independence.
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