CrusadeBoxer is right - Get a timer for the water heater and insulate the shit out of it.. I found $500 in savings last year by installing that little do-hickie on my water heater. My electric bill now is $95 (+/-$15) for a 1400 sq feet house, with Electric - a hot tub(kept at 102), water heater, range/stove, 60" TV, and 800w of growing forum. Disclamer - I use Propane for heat that is delivered.

BHG