Posted on 11/22/2013 8:59:47 PM PST by Olog-hai
The price of electricity hit a record for the month of October, according to data released Wednesday by the Bureau of Labor Statistics. That made October the eleventh straight month when the average price of electricity hit or matched the record level for that month.
The average price of electricity in October was 13.2 cents per kilowatt hour (KWH), up from 12.8 cents per KWH in October 2012—and up from 9.3 cents per KWH in October 2003.
Americans now pay 42 percent more for electricity than they did a decade ago. …
(Excerpt) Read more at cnsnews.com ...
“Under my plan, the price of electricity will necessarily skyrocket” — Emperor Zero
He told the American people exactly what he was going to do. But they thought he sounded so good when he said it.
42% higher in 10 years is 3.5% per year annualized. Other costs have spiked much more than that in the last 10 years.
^Actually, 3.5% should be 3% annualized.
He is just getting started though.
You damn betcha!
The feds keep printing / digitizing money every month. It is an economic certainty that inflation - caused by cheap money - will cause prices to rise. Or, otherwise known as stealth taxing.
Our actual electrical use went down during the last 12 months, but the bills are up 22%. We had been doing what we could to conserve energy, hoping to reduce the bill a little.
Thank goodness we did. Will have to do more this next year.
Oh. I feel so much better...except that I’m poorer. Do you think everything else went up more because electricity and oil went up? Everything but my paycheck.
I use 800-900 KWH/month, bill is around 300 bucks. We live in rural AK. Oil is hauled in for the generator at elec shack in our community, $$$$$$. I think it’s around 70 cents/kwh, but we have a rate reduction on first 500 KWHs. Get ready folks, I’ve been used to high prices for many years.
If Obama hadn't destroyed the coal industry, the price increase would have been much lower.
That's because they can't raise prices on their own. They have to get rate increases approved by the state.
The reason electric prices have gone up is the epa. Their regulations cost billions to retrofit plants. Then there are all the ferc and sec regulations. Billions more to meet. This is being counter balanced with low fuel costs for nat gas thanks to fracking to some degree.
Lots of people here put in wood burning finances. The fire box is located out side the house, and it utilizes the Central heating to distribute it.
We got rid of our wood stove when we finished the basement, but we still have 2 fireplaces, with fans to make them more efficient.
finances = furnaces
We live out in the sticks, have a wood stove in basement and a Pioneer Maid cook stove upstairs, 2400 sq ft cabin. We always get 2-3 weeks of minus 60 F in January. It was minus 40 3 nights back. The basement wood stove runs 9 months a year. I don’t even use the baseboard oil fired boiler anymore, 15K in oil/year. I haul in around 150 average birch trees with snowmachine & sled, let them dry over summer covered. Oli is over $5/gallon here in rural Alaska. I actually enjoy cutting wood in the winter, my exercise and nature in the woods therapy.
In our area, the marginal cost of electricity, fully burdened by all charges, is about 15 cents per KWH. Converting both the electric rate and the natural gas rate to dollars per gigajoule, electric is about 12X the cost of natural gas in terms of heat content. The average natural gas furnace is a little over 80% efficient. Therefore electricity is ten times the cost of natural gas in heating terms.
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