The rate cases are coming: How will utility customers react?
Utilities escaped the brunt of the customer backlash over sky high prices that was expected in 2023, but they can’t hide forever. After hitting record highs in 2022, residential electricity prices have remained elevated throughout 2023, largely due to elevated natural gas prices. While residential electric utility satisfaction has fallen as a result, we’ve yet to see any large-scale public outcry over utility bills. That may soon change.
Related Knowledge Center: ENERGY BASICS: electricity
Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.