In 2014, American households saw the largest electricity price increases in 6 years, according to government data, as utilities are forced to use more green energy and invest in energy efficiency and grid improvements.
Energy Information Administration data shows that U.S. residential electricity prices “experienced large increases in retail electricity prices during 2014, with the average U.S. residential price increasing 3.1% over the previous year.” Last year’s price increase was the highest of any year since 2008 when prices rose 5.7 percent.
“Residential electricity rate increases during 2014 ranged from 1.3% in the Pacific Coast states to 9.9% in New England,” EIA notes, adding that prices are only predicted to rise one percent in 2015.
But why did electricity prices skyrocket last year?
EIA says “increased investment in transmission and distribution infrastructure, rising requirements to generate electricity from renewable energy sources, and utility investment in demand-side efficiency” combined have increased prices.
Read more at http://barbwire.com/2015/03/16/green-energy-causes-record-spike-in-electricity-prices/