Thursday, June 05, 2008

Shocking, really.

Already Stunned by Gas Prices, Shockingly High Electricity Prices May Await Americans This Summer

Posted: June 4, 2008

Americans may pay a lot more for electricity this summer, federal energy officials and the spot power market indicate. Worst hit could be the Northeast, especially the area from Boston to New York City, where forward prices from the InterContinental Exchange for July-August 2008 have been running up to 75% and higher over year-ago levels...

...Higher power prices due to higher fuel costs aren’t just an American phenomenon. Officials in countries from Great Britain to Australia have warned that rising costs will force their electricity rates to rise as well. But in America the financial pain of higher utility bills may be particularly severe because it would come on top of record-high gasoline prices that have already knocked the confidence of American consumers for a loop.

Energy conservation has not been high on the priority list of most of our communities - nor has investing in wind and solar generation for homes and businesses. But it's going to have to move up the list a bit, class. Start thinking now how you can cut your electric costs, before the summer heat arrives in earnest.

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