The change in average U.S. residential electricity prices has largely tracked the rate of inflation over the last 10 years, rising by less than one percent in inflation adjusted terms from 2013-2023, according to an Sept. 11 report published by the U.S. Energy Information Administration. Majority of the states across the U.S. regulate residential power…...
Net electricity rate increases signed off by U.S. state utility regulators reached $9.7 billion in 2023, up from $4.4 billion authorized in 2022, according to a Sept. 9 report published by the U.S. Energy Information Administration. Net electricity rates are expected to be lower in 2024 compared to 2023, however significantly higher than previous years…....
The U.S. Energy Department on Aug. 29 announced Arizona’s launch of its first Home Energy Rebates Program established by the 2022 Inflation Reduction Act, or IRA. The first state to initiate the program was New York, which announced the program on May 30. The launch is part of a wider national initiative to deliver $8.8…...
In 2022, U.S. consumer spending on energy surged by 22 percent compared to 2021, exceeding $1.7 trillion after adjusting for inflation, according to an Aug. 28 report published by the U.S. Energy Information Administration. The increase was driven by higher U.S. energy prices, particularly higher petroleum prices for transportation. Petroleum and natural gas prices were…...
U.S. power plant operators and developers added 20.2 gigawatts (GW) of utility scale power generating capability during the first six months of 2024, according to an Aug. 19 report published by the U.S. Energy Information Administration. The new capacity is 21 percent or 3.6 GW higher than capacity added during a similar period in 2023…....
The Nova Scotia Utility And Review Board on Aug. 13 approved Nova Scotia Power Inc.’s 2024 Annual Capital Expenditure Plan, or ACE, which details the company’s proposed capital spending for the next year. The company sought approval for capital projects totaling $257.6 million. Nova Scotia Power estimates its total capital spending for 2024 at $433.9…...
PJM Interconnection LLC’s capacity market auction for the 2025/2026 delivery year cleared at $269.92 per megawatt-day (MW-day), about nine times the clearing price in the last auction. The significantly higher prices resulted from…Read the full report…...
The U.S. Treasury Department on Aug. 7 reported that over 3.4 million U.S. consumers benefited from $8.4 billion in tax credits to reduce the costs of clean energy and energy efficiency enhancements to their households during 2023. This is the first public release of data from 2023 tax filing displaying the benefit of clean energy…...
The Minnesota Public Utilities Commission on Aug. 2 approved Minnesota Power’s high-voltage direct-current, or HVDC, transmission project designed to increase capacity to prepare the system for future expansion and address grid reliability. The approval allows for a capacity of up to 900 megawatts (MW), up from the current 550 MW capacity. The project is estimated…...