Farmers Almanac predicts 2008 will be the warmest year of the past century. Soaring crude oil prices drove the benchmark market price of electricity to a record last month which means consumers will be paying higher prices for the next two quarters.
“Electricity rates are climbing across the board after several years of relatively flat prices. The average cost per kilowatt hour has increased from 8.4 cents in 1997 to 10.64 cents last year. That’s an increase of 24% in the past decade. These figures are from December 2006 to December 2007. Price increases have hit double digits in many states. Illinois saw an increase of 33%, and Hawaii saw rates climb just below 30%. Maryland, Oklahoma, and the District of Columbia aren’t far behind with double-digit gains. One expert said the deregulation of energy markets means consumers are more exposed to price fluctuations.” Read more
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