Excerpt from Nov PUF's “A Modern Rate Architecture for California’s Future”
It’s great when the electric bill percentage is this low and is this low for this long: there’s more to spend on all other consumer goods and services.
From Q1 2015 to Q2 2018, utilities’ residential customer count increased by 4.6 million nationally. This much faster growth was at the annual rate of 1.1 percent.
When electric bills are a low percent of consumption expenditures, as presently, when it is typically at 1.33%, electricity is difficult to afford for far fewer households.
We have now set the all-time record high for residential electric sales in the first seven months of the year.
In the midwest and south, the gap between their CPI increase and electric bill decrease was huge, 5 percent and 4.3 percent respectively.
Average electric bills of Northeast households with income of at least $70,000 was well more than double the average bills of households with income of $10,000 to $14,999.
Take an average of all the households and you miss the diversity of what individual households pay for electricity.
In the short and long term, electric bills have shrunk in proportion to expenditures overall.
Natural gas heating isn’t growing. Bottled, tank, LP gas, fuel oil, kerosene are quickly fading for home heating.