Retail electricity prices have risen nationwide over the past year or so by an average of 4.3%, according to the U.S. Energy Information Administration (EIA). However, utilities served by regional transmission operator ISO New England have seen wholesale power prices (what electric utilities that don't produce their own power pay to supply customers) jump by a whopping 83% in the first quarter of 2022. PJM customers, who span all or part of 13 Mid-Atlantic and Midwestern states and the District of Columbia, have faced a 51% increase over the same period.While solar, wind and other renewable energy resources have grown over the last decade, natural gas has had the top spot among electricity generation options for several years, totaling 38% in 2021, compared to 20% total for all renewable sources. Utilities went big for natural gas in the early 2000s, when new tracking technology created cheap and plentiful supplies. The fuel had the added advantage of creating lower greenhouse gas emissions than coal. Also driving prices down in those early days was the fact that U.S. producers had little opportunity to sell outside U.S. borders, thanks to a ban on almost all export facilities, which was in place until 2015.
展开▼
