Fortnightly Analysis
Steve Mitnick has authored four books on the economics, history, and people of the utilities industries. While in the consulting practice leadership of McKinsey & Co. and Marsh & McLennan, he advised utility leaders. He led a transmission development company and was a New York Governor’s chief energy advisor. Mitnick was an expert witness appearing before utility regulatory commissions of six states, D.C., FERC, and in Canada, and taught microeconomics, macroeconomics, and statistics at Georgetown University.
Residential electric bills as a percent of overall consumer expenditures, for all goods and services, varies significantly by state. A table shows bills as percent of overall consumer expenditures by state, while a graph plots data by year from 1997 to 2022.
Residential electric bills as a percent of overall consumer expenditures, for all goods and services, varies significantly by state. States with lower percentages generally have milder climates, are more wealthy per household on average, and are more urban. States with higher percentages generally have warmer climates, are less wealthy, and are more suburban and rural.
Residential electric bills as a percent of overall consumer expenditures, for all goods and services, has varied over the last quarter century. It has been historically low in recent years. Though in 2022, there was an uptick due to higher natural gas commodity prices, a consequence of Russia's invasion of Ukraine. This year, we expect a decrease from 2022, to a percentage closer to the 2021 low.
Download the graphics here (https://www.fortnightly.com/sites/default/files/article_uploads/2307_Fortnightly_Analysis.pdf).
