Today's PUF

Natural Gas and Electric Prices

The Labor Department released August data on producer prices on September 10.

Notably, the average price for the natural gas sold to electric power producers was fifty-two percent higher in August than in August of 2020.

The average price of natural gas sold to commercial and industrial customers was twenty-nine percent and forty-five percent higher in August than in August of 2020, respectively.

And the average price of electricity sold to commercial and industrial customers was four percent and five percent higher in August than in August of 2020, respectively.

Average Residential Bill $126

Because of the pandemic, people stayed home more last year. This shows up in the average residential electric bill.

The data courtesy of the most authoritative source on what American households have spent their money on, the Labor Department’s extraordinarily comprehensive Consumer Expenditure Survey. 2020 data was released on September 9.  

Compared with the prior pre-pandemic year, the average monthly bill rose in 2020 by three percent to $126.

As usual, the average varies quite a lot by region and by income.

Anthony Oni on the Elevate Future initiative

A quote from Anthony Oni, Energy Impact Partner's managing partner for the Elevate Future initiative:

"So, as we go through this clean energy transition, we want to be more intentional about making sure access to capital flows to Black, Brown, Latinx, Indigenous groups, women, LBGTQ, veterans, and individuals with disabilities. We want to make sure that under-represented founders and entrepreneurs — what I call the underestimated — have a chance to take part in this economy."

Electric Bills Percentage Back to Normal

The U.S. Commerce Department just reported July’s gross domestic product data. It showed that residential electric bills nationally fell to 1.24 percent of total consumption expenditures. 

This percentage was as high as 1.40 percent last July, which was one of the first months of the pandemic. Residential electric bills nationally were almost identical in July 2020 and July 2021.  But due to the pandemic’s initial impact on the economy, total consumption expenditures in July 2020 were eleven percent lower than in July 2021. 

Commissioner Anthony O'Donnell

Excerpted from August’s Public Utilities Fortnightly cover article on the Maryland PSC, on page 20:

“No, we are not political. We all carry our life’s experience with us, and we all carry our viewpoints with us, of course. If you’re human, you have to. But we are not overtly political.

We try to stay away from that when we deliberate. We have three Republicans, and two Democrats, and that’s by design. It’s not a forced distribution, but it’s healthy to have various perspectives.

Commissioner Mindy Herman

Excerpted from August’s Public Utilities Fortnightly cover article on the Maryland PSC:

“I have an extensive background in the industry. I started right before law school. It was hard to get a job back in the early eighties, but I got a job as a Xerox girl at a law firm.

Three Transmission Projects to Complete

Excerpted from August’s Public Utilities Fortnightly article by United Power CEO Mark Gabriel, former WAPA Administrator, on page 20:

“With even the simplest transmission project taking a decade or more, we should take some specific, short- and medium-term actions. …  So, what projects do I believe can and should be done today? Rebuild the seven AC/DC ties between the Eastern and Western grid. At a cost of roughly thirty million, this project could be complete in less than eighteen months.