How Low Can Electric Bills Go? 1.38%

Deck: 

In just 1 year out of last 58 has electricity been more economical.

Today in Fortnightly

There have been 58 months of March since March 1959. Of all those months of March, only one had a smaller percent of consumer expenditures spent on electric bills than March 2016.

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In March 2016, just 1.38 percent of consumer expenditures paid electric bills. That's what the Commerce Department reported on Friday, in its gross domestic product release.

Only March 2000 had a smaller percent, 1.34 percent. March 2016 and March 2004 tied for second place, with 1.38 percent paying for electricity. 

Translation: In just one year out of the last fifty-eight years has electric service been more economical than this year.

The Commerce Department started this data in that last full year of Ike's administration, 1959. You recall March 1959. Hawaii was admitted as the fiftieth state. The Barbie doll debuted. Pioneer IV was America's first launch that made it out of the atmosphere.

The March 2016 percent for electric bills, 1.38 percent, is significantly down from March of prior years. March 2015 was 1.48 percent. March 2014 was 1.60 percent. March 2013 was 1.59 percent. 

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Public Utilities Fortnightly was already 33 years old when Chubby Checker asked, in his hit Limbo Rock, "how low can you go?"

Steve Mitnick, Editor-in-Chief, Public Utilities Fortnightly

E-mail me: mitnick@fortnightly.com