OP, was the # of days in the billing cycle higher than normal? I've had bills that were 36 days before instead of the usual 30 or 31 just because the meter was read later than usual. I guess a $50 hike is still significant though. Weird.
sibamor, why wouldn't you rather pay on average, $138.60/month that varies vs. $140/month every month? Or are you saying that under that plan, you are locked in for usage rates rate changes to the tune of 1%? If that's the case, you are basically hedging inflation which is cool. But if not, IMO it's just a waste of, on average, $1.40/month.