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Average Price of Electricity for Industrial or Large Commercial Facilities Jumped 4.7 Percent Since April 2006
The average price of electricity in the United States was 9.28 cents per kilowatt-hour (kWh) as of April 1, 2007 compared with 8.86 cents per kWh in April 2006, according to an annual survey by NUS Consulting Group.
The survey sampled 24 of the largest investor-owned electric companies in the country using an industrial model of monthly usage totaling 450,000 kWh with a monthly demand of 1,000 kW. The survey model also assumed an operating power factor of 85 percent and customer-owned transformation equipment.
The study found customers in California, Maryland and New York pay some of the highest electricity prices in the country. The top five surveyed utilities in terms of price included Consolidated Edison (NY) at 18.29 cents/kWh, National Grid (NY) at 14.06 cents/kWh, Baltimore Gas & Electric (MD) at 12.98 cents/kWh, Southern California Edison (CA) at 12.65 cents/kWh, and Pacific Gas & Electric (CA) at 11.45 cents/kWh.
The largest price escalation over the past year occurred in Illinois as ComEd industrial customers witnessed their electricity costs increase by 36.1 percent. Other utilities with notable increases included Consolidated Edison (NY) at 25.6 percent, Xcel Energy (MN) at 22.1 percent, Entergy (LA) at 17.5 percent and National Grid (NY) at 16.4 percent.
The survey found the lowest priced utilities included Dominion Power (VA) at 5.20 cents/kWh, Duke Power (NC) at 5.28 cents/kWh, Ohio Power at 5.34 cents/kWh, Ameren UE (MO) at 5.46 cents/kWh, and Alabama Power at 6.30 cents/kWh. The largest price decreases over the past year were found with Southern California Edison at 13.3 percent and Public Service Electric & Gas (NJ) at 11.5 percent.
The highest power prices were found in those states that have deregulated their retail electricity markets, the report finds.
"The survey once again reveals that higher energy prices seem to be here to stay," says Richard Soultanian, co-president of the NUS Consulting Group. "Retail deregulation is currently either stalled or ineffective in much of the country and many people are looking for answers to their ever increasing electricity bills."
NUS Consulting Group provides energy and telecommunication cost audit, analysis and consulting services to industrial and commercial organizations.