Energy Update July 2022

UTILITY PRICES ON THE RISE

  • PA
    • PECO: $.07699/kWh, up from $.06816, June 1 – August 31
    • PPL: $.11695/kWh, up from $.09675, June 1 - November 30
    • Met Ed: $.10625/kWh, up from $.07482, 42% increase, June 1 – August 31
    • Penelec: $.11056/kWh, up from  $.08031 per kWh, 38% increase, June 1 – August 31
    • Penn Power, $0.12533/kWh, up from $.10002 per kWh, 25% increase, June 1 – August 31
    • West Penn Power, $0.10115/kWh, up from $.06542, 55% increase, June 1 – August 31
  • CT – United Illuminating GS Standard Service rate increased about 8% to $.106607/kWh from the previous rate of $.099109/kWh, effective July 1 – December 1.
  • IL – MISO capacity rates jumped nearly fiftyfold after multiple coal plant operators announced early closures.  Midwest sub-region cleared at $236.66/MWd vs. $2.88/MWd in the South region.
  • OH - The Public Utilities Commission of Ohio approved results for AES Ohio (formerly Dayton Power & Light) for the period June 1, 2022 to May 31, 2023 at an average price of winning bids of $122.50 per MWh. For comparison, a March auction for the same period had winning bids of $75.13 per MWh.
  • RI – National Grid warning residential customers to prepare for rates to double by October to over  $.15/kWh, the highest price on record. New England gets roughly 1/3rd of its winter natural gas from LNG.
  • NH – Eversource small commercial price to compare (PTC) increasing 112% August 1 to $.2257/kWh.  Large commercial January PTC: $.4855/kWh