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If you have been following electricity rates over the last few months, you may have noticed a slight creep up in those rates. It’s been a slow climb and is likely closely related to the increase in the price of natural gas. Take a look at the graph below.
[image size=”none” no_lightbox=”true” link=”http://www.eia.gov/naturalgas/weekly/” open_new_tab=”true” fancy=”true” shadow=”true”]http://www.roundrockelectricity.com/wp-content/uploads/2013/05/eia-gas-spike.jpeg[/image]If you click on the image it will take you directly to the Natural Gas Weekly Update published by the Energy Information Administration.
But notice the increasing cost of natural gas over the last year. You can see that the costs have been rising and falling, but there is a definitely increase overall.
This is no doubt directly affecting electricity rates as much of the Texas electricity load is generated through power plants operating with natural gas.
What continued affect will these rate increases have on the future Texas electricity market?
According the the EIA, after a retail electricity price increase of 1.4 percent during 2012, EIA expects U.S. retail residential electricity prices will grow by 2.6 percent in 2013 and by 2.3 percent in 2014. From 2012 to 2014 that would take a “10 cent per kWh rate” to about 10.5 cents per kWh. At a 1000 kWh’s per month usage, that equates to about $5 a month increase.
If you would like to lower your current electricity rate with one of our plans, check the rates and give us a call.
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