Rising US Power Prices Reflect New Reality Utilities in Warming World
July 29, 2024
S&P Global
Severin Borenstein, Energy Institute Faculty Director, examines rising US power prices and explains why US power retails costs have been inconsistent over the years.
“US power retail costs are inconsistent because bills now include charges that may have nothing to do with the costs that utilities incur when generating and distributing electricity… ‘I think the common theme here is we pay for a lot of stuff through price per kilowatt hour that is not a cost per kilowatt hour… Wholesale power prices have been very moderate over the last year, but we’re still seeing retail prices grow.”‘
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