Summer electric prices anticipated to be lower than last year - Mid Hudson News Website
Summer electric prices anticipated to be lower than last year - Mid Hudson News
HUDSON VALLEY- The New York State Public Service Commission announced that New York’s electric grid and its electric utilities are prepared for increased summer demand for electricity. Additionally, the price for electricity paid by full-service residential customers on average is expected to be lower than a year ago, depending on the customer’s location, demand and actual market prices.
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.