Power Vampires in Your Home
What can you do to lower your power cost at home?
The monthly energy updates have been published for June 2020 fuel prices (data from GasBuddy.com) and electricity prices and natural gas prices for April 2020 (price data from the US Energy Information Agency). Through the COVID-19 pandemic shutdown, California’s energy costs unfortunately continue to be more expensive than the rest of the United States.
According to a report from the Center for Jobs and the Economy, “California energy policies and regulations continue to impose a substantial cost premium well above those that prevailed in the post-2008 recovery period, and will consume both household and employer resources in the upcoming recovery substantially above comparable costs in other states. These costs also just got higher. Although not yet incorporated into the June data, California fuel taxes again increased on July 1, raising the gasoline tax by 3.2 cents a gallon and diesel tax by 2.5 cents. These tax increases are the result of annual inflation adjustments pursuant to SB 1 (2017), a feature that will likely keep California’s fuel taxes the highest in the nation for some time to come.”
As we endeavor to provide the most reliable and current information on the realities of energy costs, we also continue to urge that true energy independence means that more of our energy needs must be locally sourced.
For the 12 months ended April 2020, California’s higher electricity prices translated into Residential ratepayers paying $6.1 billion more than the average ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest rate state (Louisiana), California ratepayers paid an additional $8.9 billion.
For the 12 months ended April 2020, California’s higher electricity prices translated into Commercial & Industrial ratepayers paying $11.2 billion more than ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest rate states (Idaho for commercial and Oklahoma for industrial), California businesses paid an additional $14.8 billion.
Average prices ($ per thousand cubic feet) for the 12 months ended April 2020 and changes from the previous 12-month period for each end user: