Yech... I've been in the same 1004sq.ft. apartment for about two years now, all electric (heat, water, a/c, and cooking) and my bills have never been that high. Worst ever in summer was $82, and worst winter was $83. Average across two years is $60, and there have been four times under $45. Anyways, here are some things to look for and/or think about:
1. Whenever a light burns out, replace it with a CFL. The only exceptions to this are ceiling fans (vibration) and lights in hot places (ovens, dryers). If there's a female involved, you may want to stick with regular bulbs in the bathroom as well.
2. Turn down the heat and a/c. Mine is set to 78 in summer, and 64 in winter. Every extra degree you can tolerate is money in your pocket. It's cheaper to throw on a sweatshirt than heat the whole apartment. Same logic when you're asleep. Electric blankets for the win.
3. If you have access to them, make sure your ducts aren't spewing hot/cold air into empty spaces. I had an apartment in Baltimore where the duct exiting the unit was broken inwards, causing at least a third of the air to be wasted into the world instead of going into my apartment.
4. Use plastic sheets w/ double-sided tape over your windows to keep out drafts. Take the time to apply it properly, including shrinking it with a hair dryer.
5. If you're not using something, turn it off. Computers in particular are great at chewing up power just sitting idle.