The best way to beat the heat is to stay inside, but if you hike the air conditioning too high, you could pay the price when you get next month's electric bill.

Tips to stay cool and save money in the heat. (Manfredini Mauro, ThinkStock)

However, there are a few simple steps you can take that will not only save you cash, but keep you cool as well.

"One thing people can do is delay doing things that create heat in the home, like washing and drying laundry and running the dishwasher," said Brooke Houston, spokesperson for PSE&G. "Consider setting the air conditioner at 78 degrees, health permitting."

Other tips on how to save energy and money during the hot summer days include the following:

  • Turn off everything you're not using: lights, TVs, computers, etc. Use dimmers, timers and motion detectors on indoor and outdoor lighting;
  • Close blinds, shades and draperies facing the sun to keep the sun's heat out and help fans and air conditioners cool more efficiently; and
  • Close doors leading to uncooled parts of your home. With central air, close off vents to unused rooms.

PSE&G is ready for the heat, according to Houston.

"All year round, we invest in our transmission systems and we routinely maintain our lines and equipment. We are not expecting to have any problems meeting demand, but we are monitoring the weather closely and we do have additional personnel on hand to handle any power interruptions should they occur," she said.

If you experience a power outage, call PSE&G's Customer Service line at 1-800-436-PSEG or report power outages online.  During extreme weather, follow on Twitter at http://twitter.com/psegdelivers.