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Connecticut Electricity Prices may Rise and Fall with the tides of change

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Looking ahead from 2017 to 2022, electricity generation could rise as much as 3 cents per kilowatt hour because of increased demand, rising natural gas prices, and New England‘s commitment to renewable energy. But first electricity price could decline for 5 years. Why the instability? In March 2012 I paid .079800/kwh, the saw a reduction to  .065900/kwh in April 2012  for my 450kwh of residential service. Delivery charges were about 60% of my total expense

The Ct  Department of Energy & Environmental Protection published the Integrated Resource Plan on June 7, 2012  which is intended to serve as a guide for the state’s energy policy for the next 10 years.(1)To offset the potential increase, the Integrated Resource Plan suggests we focus on cost-effective renewable power and , increased  investments in energy efficiency to assure the New England has enough natural gas supplies to meet rising demand in the electricity and heating sectors. (1)

This future demand and cost projection presents a window of action and opportunity to increase investment in energy-saving technology as a capital investment, while taking advantage of Tax Credits and Rebates.

Connecticut electricity prices could drop for five more years before a variety of market factors could force a 38 percent rise in prices by 2022, a new report says. We must be wary of this short-term reduction in rates as complacency will undermine the motivation in invest in energy-saving technology when prices are declining

In the report, DEEP officials said they expect the generation price of electricity – about 40-50% of a total electric bill – to remain at 8 cents per kilowatt-hour or below through 2017. The low prices are due almost entirely to the dropping price and increasing domestic supply of natural gas. (1)

Contributed by David Carr Ct Sales Manager

(1) HartfordBusinessJournal 06.14.12

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Electricity prices to rise and fall with the tides of change

by

1

Looking ahead from 2017 to 2022, electricity generation could rise as much as 3 cents per kilowatt hour because of increased demand, rising natural gas prices, and New England’s commitment to renewable energy.

To mitigate the potential increase, the IRP recommends Connecticut focus on cost-effective renewable power, increase its investments in energy efficiency, and make sure the region has enough natural gas supplies to meet rising demand in the electricity and heating sectors. (1)

Connecticut electricity prices will drop for five more years before a variety of market factors could force a 38 percent rise in prices by 2022, a new report says.

The state Department of Energy & Environmental Protection released its Integrated Resource Plan on June 7, 2012  following months of examining the energy market and the impact of state and regional policies. The IRP is meant to serve as a guide for the state’s energy policy for the next 10 years.(1)

In the report, DEEP officials said they expect the generation price of electricity – about 40-50% of a total electric bill – to remain at 8 cents per kilowatt hour or below through 2017. The low prices are due almost entirely to the dropping price and increasing domestic supply of natural gas. (1)

Contributed by David Carr Ct Sales Manager

(1) HartfordBusinessJournal 06.14.12