The price trend for electricity is heading in only one direction. The article below points out some historical information in addition to the policies of the President which will keep these numbers heading up.
price trend for electricity
Article originally published by CNS News:
Electricity Prices Highest on Record for May
July 2, 2013 – 2:00 PM By Michael W. Chapman
The price of electricity in the United States for May was 13.1 cents per kilowatt hour (KWH), which is the highest it has been on record for that month, according to data from the Bureau of Labor Statistics (BLS), which tracks the price going all the way back to 1984.
Thirteen cents per KWH is the highest price for the month of May in 29 years, according to the BLS numbers.
These price data come at a time when President Barack Obama has announced a “new national climate action plan” to reduce carbon dioxide emissions to combat alleged man-made global warming and spend more federal money on “clean energy” projects.
The coal industry, which produces about 45% of the electricity in America is expected to be the hardest hit by the federal regulations, raising its costs and the cost of electricity for consumers. Sen. Joe Manchin (D-W.Va.) said that Obama’s plan is “a war on America” because the regulatory burden and costs will severely damage the U.S. coal industry.
The Consumer Price Index-Average Price Data at the BLS show that the U.S. city average price of electricity per KWH was 13.1 cents in May 2013, which is the latest month’s price data available. (See here and scroll down to “Electricity per KWH,” then click on the dinosaur icon for historical data chart.)
The BLS numbers show that the price per KWH in May 2012 was 12.9 cents; for May 2011, 12.9 cents; May 2010, 12.7 cents; and May 2009, 12.6 cents.
The price of electricity per KWH, compared with May 2013, was lower for every May going back to 1984, when the BLS data starts. In that year, the price per KWH was 8.1 cents. Those prices are in nominal numbers, not adjusted for inflation.
The BLS press office confirmed to CNSNews.com that the May 2013 price of 13.1 cents per KWH is the highest price for that month on record.
Read the rest of the article here: http://cnsnews.com/news/article/electricity-prices-highest-record-may#sthash.49tyUxCY.dpuf
Locking in a rate with a multi-year contract can at least protect your business from future increases. An energy consultant can assist with this process.
