Inflation More Than Offsets 4.3% Rise in Residential Electricity Rates

“Inflation is our friend” Joe Biden? Or Dan Akroyd?

Does anyone else remember this classic Saturday Night Live skit?

I still laugh my @$$ off whenever I watch this. I have the first several seasons of SNL on DVD. They’re just as funny, if not funnier, today than when I first watched them back in my college days.

Well, reality now appears to be imitating art:

APRIL 7, 2022
U.S. residential electricity expenditures increased by $5 per month in 2021

Utility electric bills for residential customers in the United States increased by $5 per month to average $122 in 2021. Average monthly residential electricity expenditures ranged from a high of $178 per month in Hawaii to a low of $82 per month in Utah.

The 4.3% increase in 2021 was the second-largest annual increase in nominal electricity expenditures over the past decade. According to the U.S. Bureau of Labor Statistics’ Consumer Price Index, overall consumer prices increased at the slightly higher rate of 4.7% in 2021. Residential electricity prices have tended to increase less than overall inflation measures over the past decade.

[…]

Connecticut had the second-highest average residential utility bills, at $156 per month. This rate is typical of New England states, where electricity prices tend to be higher because constraints on natural gas pipeline capacity during peak demand periods drive up the cost of utility generation.

[…]

Principal contributor: Alex Gorski

Tags: residential, electricity, prices, utility, states, Hawaii, Utah

EIA

“Inflation is our friend”

What goes up and goes down at the same time? Apparently residential electricity rates do.

Source: U.S. Energy Information Administration, Electric Power Monthly
Note: Inflation adjustment uses the U.S. Bureau of Labor Statistics’ Consumer Price Index.

Oscar Wild said it best:

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Richard Page
April 8, 2022 2:59 am

“Oh wonder! How many goodly creatures are there here! How beauteous mankind is! O brave new world, that has such people in ‘t!”

Thomas
Reply to  Richard Page
April 8, 2022 8:49 am

“When my love swears that she is made of truth, I do believe her, though I know she lies.”

rah
Reply to  Richard Page
April 8, 2022 10:24 am

Well the Bastards are about to cut down on the number of people in their new world.
Members Of Congress Are Now Using Words Like “Famine” And “Starvation” To Describe What Is Coming (theeconomiccollapseblog.com)

And when it happens, as it most likely will to some extent or another, you know it will be blamed on “Climate Change”.

We know there is enough food produced to feed every single person on earth if not for war and politics. But starvation and the denial of water is a relatively cheap and effective way of killing off great masses of people and that is exactly what the bastards are going to do.

Tombstone Gabby
Reply to  rah
April 8, 2022 8:56 pm

G’Day rah,

“… starvation and the denial of water …”

There’s one thing about cutting a local water supply – the customers know just who is responsible. And that could lead to at least a temporary solution for the starvation problem.

Derg
April 8, 2022 3:14 am

This war on fossil fuel is dangerous to the west especially the poor. The Biden administration is responsible for US inflation but they blame everyone else but themselves.

Robertvd
Reply to  Derg
April 8, 2022 3:56 am

A centrally controlled (socialist) economy (federal reserve) needs constant wars. It doesn’t matter what kind of wars.

Frank from NoVA
Reply to  Robertvd
April 8, 2022 4:49 am

The Fed doesn’t need wars, it just enables the politicians that do.

Reply to  Derg
April 8, 2022 4:45 am

How is it dangerous to the poor? The higher inflation goes the more poor there will be, I think that means its good for the poor.

Old Retired Guy
Reply to  bob boder
April 8, 2022 6:55 am

I don’t think that means what you think it means! 🙂

Brad-DXT
Reply to  bob boder
April 8, 2022 10:06 am

Because misery loves company?
I think you forgot the /sarc tag.

DMacKenzie
Reply to  bob boder
April 8, 2022 12:20 pm

Inflation is a hidden tax. In Canada, you don’t really find out until you inherit your father’s cabin at the lake. Then “capital gains tax” takes about 25% of what it is worth since its original cost was relatively low and pretty much its entire value is “gain” due to inflation. You find, in reality, the government became owner of 25% of the property over your lifetime. So actually, those G7, G10, etc. meetings to control inflation are actually about how much of peoples property and long term assets the government is going to own, over citizen’s lifetimes.
Then when you pay the 25% for their share, they start the clock again…US has inheritance tax, don’t know how that works, but probably ends up discussed in the same G7 meeting…

Spetzer86
Reply to  Derg
April 8, 2022 5:29 am

It’s only dangerous if you assume the Elites aren’t trying to kill off a large swath of humanity. It’s just part of the plan if you go with the other path. I don’t read “global famine” as a positive, but 2023 could be really interesting.

Brad-DXT
Reply to  Spetzer86
April 8, 2022 10:11 am

Global famine is just one of the arrows in the quiver.
The WEF has a multitude of plans to depopulate the planet because it’s easier to control less prisoners than have more guards.

Robertvd
Reply to  Derg
April 9, 2022 3:21 am

And how many administrations did we have that did not inflate the money supply ?

Merrick
April 8, 2022 3:44 am

4.3%? Bull! More like 20%. And my gas has gone up at least that much, too. I just paid $5 more for my gas in April 2022 than I did in April 2021 – but used 20% less therms. The average electric bill may only have gone up 4.3% but I would bet people are using less home electricity in early 2022 than in early 2021 because most are spending most of their days out of the house at work instead at home all day as many were in early 2021.

Robertvd
Reply to  Merrick
April 8, 2022 4:03 am

Electricity could be nearly free if coal power plants could be running at 100% efficiency. But what is worse is that your savings will become worthless.

jeffery P
Reply to  Robertvd
April 8, 2022 4:40 am

Yep. I’m no longer planning for early retirement.

John Garrett
Reply to  Merrick
April 8, 2022 8:48 am

Most residential electricity rates are regulated and set by local public service commissions (known by various names, sometimes yclept “State Corporation Commissions”).

Those regulated electricity (and natural gas) prices are frequently based on wholesale prices prevailing at the time of the rate-making process.

As a result, retail prices generally lag current market wholesale costs for natural gas— sometimes for considerable amounts of time (it all depends on the local rate-setting process).

Merrick
Reply to  John Garrett
April 9, 2022 4:03 am

So, clearly, what you’re saying is it will get much worse.

CoRev
Reply to  Merrick
April 9, 2022 5:50 am

Merrick: “4.3%? Bull! More like 20%.” In our case the price raise has been 1/3 on a per month basis for an annual contract. Our power is provided by a co-op, which until a couple of years ago had ZERO generation capability, when it bought land and installed a solar farm.

Now that the Fed and state subsidies are reduced/gone, those ole prices have to better reflect actual costs for its customers.

Robertvd
April 8, 2022 3:53 am

A centrally controlled (socialist) economy where those in power and not The People choose the winners and losers will always have to inflate the fiat currency to kick the can a little bit further. How is the federal reserve system different than a centrally controlled (socialist) economy ? That’s why it needs wars.

Scissor
Reply to  Robertvd
April 8, 2022 4:11 am

It’s more like fascism disguised as socialism disguised as democracy.

John Endicott
Reply to  Scissor
April 8, 2022 4:48 am

fascism is not disguised as socialism. Fascism *is* an outgrowth of socialism. The best know fascist regime in history has it right in it’s name: National *Socialist* German Workers’ Party. Fascism grew from left-wing socialist movements. It’s not just the Nazi’s that started out as a socialist organization. Pretty much all the early 20th century fascists rose from the ranks of left-wing, socialist organizations. One of the biggest lies the left have succeed in pushing is that fascism came from the political right-wing.

Derg
Reply to  John Endicott
April 8, 2022 4:52 am

This ^

Scissor
Reply to  John Endicott
April 8, 2022 5:14 am

It’s very interesting how definitions of words are being changed, sometimes to mean the exact opposite of their original meaning, and lying has not only become pervasive, it is expected.

The liberals are no longer liberal. They lie about fascism saying it is a right-wing movement, as if it really matters. They just want to stigmatize their opposition.

Frank from NoVA
Reply to  Scissor
April 8, 2022 7:59 am

Back in the day, calling yourself a socialist wasn’t a high percentage play on this side of the pond, so many referred to themselves as progressives and finally , when that label became a liability, liberals.

Of course, the term conservatives isn’t very accurate either.

R Terrell
Reply to  Frank from NoVA
April 12, 2022 11:32 am

It’s become rather hard to say what any of us are. I used to call myself a classic liberal. No more, though. Now, I call myself a ‘conservative’, only because I believe in the US Constitution. MANY do not, these days, it seems.

Clyde Spencer
Reply to  Scissor
April 8, 2022 1:51 pm

George Orwell was truly prescient.

Robertvd
Reply to  John Endicott
April 8, 2022 9:56 am

Correction, Nazis are not the same as Fascists. The Nazis hated the Fascists. Maybe the Youtube Channel TIK can help to explain the differences and similarities between Communism Socialism Nazism and Fascism.

Observer
Reply to  Robertvd
April 8, 2022 4:08 pm

The Nazis “hated” fascists? Why did they help Franco and ally with Mussolini then?

Last edited 1 month ago by Observer
Merrick
Reply to  Observer
April 9, 2022 4:08 am

The real answer is that Fascism is neither right nor left. It is simply a method of governing that specifically includes a command economy. It’s just an historical irony that all Fascist governments have come from the left.

R Terrell
Reply to  Merrick
April 12, 2022 11:34 am

Essentially, ALL things evil come from the Left! PROVE me wrong!

bonbon
Reply to  Scissor
April 8, 2022 6:03 am

Better to use French – Synarchism, as the US OSS discovered during WWII, is the key to understanding.
Roughly put by US OSS as nazi-communism in declassified files.
Synarchism is precisely identified with a Catholic Martinist FreeMason financier cabal devoted to to the Emperor Napoleon. Monday fascist is a Wednesday communist.
This is why Hitler at the Paris Napoleon Mausoleum said Mein Vorgänger – predecessor.

bonbon
Reply to  bonbon
April 8, 2022 8:47 am

By the way WUWT pukes in FireFox since today. Edge no problem…
function(e,t){return new S.fn.init(e,t)}function(e,t){return new S.fn.init(e,t)} 

Clyde Spencer
Reply to  bonbon
April 8, 2022 1:54 pm

I encountered the same problem. I notified CTM, but have not heard back from him and the problem still persists after several hours.

Tom in Florida
Reply to  bonbon
April 8, 2022 3:48 pm

Had the same problem this morning I use FireFox.

JuanSlayton
Reply to  bonbon
April 8, 2022 6:57 pm

Add me to the list. Didn’t think to use another browser.

Reply to  JuanSlayton
April 8, 2022 11:33 pm

Fixed for now, apparently.

But, hmm. I wonder if the last Firefox update is to blame. I had issues with my online banking this morning – and had to use Edge to clear them up.

Merrick
Reply to  writing observer
April 10, 2022 3:22 am

Try Brave.

R Terrell
Reply to  Merrick
April 12, 2022 11:38 am

Brave ‘always’ works! So far.

bonbon
Reply to  bonbon
April 10, 2022 7:38 am

Fixed. FF 99.0 update was not the problem or solution.

R Terrell
Reply to  bonbon
April 12, 2022 11:37 am

This is why i refuse to use FireFox, except in an emergency! Not only that, but they sell your private information. As a result, I use Brave almost exclusively.

mkelly
Reply to  bonbon
April 8, 2022 9:56 am

So those Freemasons like George Washington or Edward Jenner were really Fascist Nazis?

bonbon
Reply to  mkelly
April 10, 2022 7:40 am

Not Napoleonic, not even wrong.

DonM
Reply to  bonbon
April 8, 2022 11:37 am

“Monday fascist is a Wednesday communist”

What do you mean by that?

bonbon
Reply to  DonM
April 10, 2022 7:39 am

Changing ‘sides’ – a tactic.

jeffery P
April 8, 2022 4:39 am

Let’s party!

fretslider
April 8, 2022 4:41 am

“I still laugh my @$$ off whenever I watch this. “

I still laugh at ‘Til Death Us Do Part (Alf Garnet etc)

But today’s world is different. They’re dumbed down. They are humourless and totally joyless. Some even think having children will kill the planet.

“There’s plenty of people who are PC now who have absolutely zero sense of humour. I would love to debate, in a friendly way, a couple of ‘woke’ people in front of an audience. And I think the first thing I would say is, please tell me a good ‘woke’ joke” – John Cleese.

The zeitgeist, aside from fear and correct-think, is whatever is said or done must first be analysed by identity politics, through the racial lens, and anything potentially offensive must be rooted out. Fear promoted particularly in the young who can be easily spooked has been spectacularly successful.

Last edited 1 month ago by fretslider
fretslider
Reply to  David Middleton
April 8, 2022 4:57 am

Even that gets censored now – The Germans

The Major’s explanation on w’s and n’s (in cricket etc) has been disappeared from broadcasts.

Apparently they don’t realise that you laugh at the Major, not with him.

yirgach
Reply to  fretslider
April 8, 2022 6:02 am

When you get right down to it, they don’t realise a lot of things.

bonbon
Reply to  David Middleton
April 8, 2022 8:56 am

BBC told Cleese to cancel most Fawlty episodes as it was denigrating to Spain, Manuel the waiter. He reminded them he was from Portugal!
And Cleese did actually tell a Woke Joke :
https://twitter.com/johncleese/status/1459398678293196800?lang=en
the backlash was cacophonic!

Alex B
Reply to  bonbon
April 8, 2022 9:48 am

Since when does Barcelona lie in Portugal?

fretslider
Reply to  Alex B
April 8, 2022 11:59 am

Must be a New Labour educashun

Alan M
Reply to  David Middleton
April 8, 2022 5:46 pm

Flowery twats and all

Gunga Din
Reply to  fretslider
April 8, 2022 6:55 am

I’d never seen that SNL skit before. Great!
Change a few dates and it could be a script for Mini-AOC!

Asked how she’ll pay for her agenda, AOC replied: “People often say, like, ‘how are you going to pay for it?’ And I find the question so puzzling, because, how do you pay for something that’s more affordable?”

You see, she insists that “Medicare for All” will overall save money. No matter that its widely estimated cost to the taxpayers is more than $3 trillion a year; Uncle Sam’s magic wand will make the numbers work.

“How do you pay for cheaper rent?” she explained. “You just pay for it.”

And this, we’re told, is the future of the Democratic Party.

Gunga Din
Reply to  Gunga Din
April 8, 2022 8:33 am
R Terrell
Reply to  Gunga Din
April 12, 2022 11:42 am

Sorry, but this IS the Democrat Party! Today! RIGHT NOW! Look at who’s ‘leading’the Party! Biden could play the part of Jimmie without even batting an eye!

Vuk
April 8, 2022 4:52 am

You are lucky over there.
Here in the UK, my energy charge changes are:
Electricity unit rate by +50%
Standing charge per day +45%
Gas unit rate +89%
Standing charge per day +9%

fretslider
Reply to  Vuk
April 8, 2022 5:19 am

You’re not alone, Vuk

ResourceGuy
Reply to  Vuk
April 8, 2022 7:32 am

Inflation is a problem of compounding and yes, you should expect more on top of that recent step change to market reality.

Ken Irwin
April 8, 2022 5:02 am

Politicians are utterly incapable of fixing a problem they created.
That would require admitting that they had made a dreadful mistake.
Did you ever hear any politician ever make such an admission – ever!
They have to be voted or thrown out of office.
In the meantime like any addicted gambler – they will just double down on the same bad bet and you and I get to pay for it.
Expletives required but held in check.

Scissor
Reply to  Ken Irwin
April 8, 2022 5:16 am

There’s little or no money in fixing problems. How hard is it to fill a pothole?

Better to leave them unfilled and ask for more money.

fretslider
Reply to  Scissor
April 8, 2022 5:20 am

Some parts of Wandsworth (London) should be twinned with the Moon

Scissor
Reply to  fretslider
April 8, 2022 6:47 am

Wandsworth! Isn’t that a lively residential district anchored by Old York Road, where hip brunch spots and sidewalk cafes sit alongside eclectic indie boutiques? (I had to look it up.)

Sounds like they deserve better.

fretslider
Reply to  Scissor
April 8, 2022 7:03 am

Yes, but….

I’m a Battersea boy.

bonbon
Reply to  fretslider
April 8, 2022 9:03 am

From the Powerstation?

battersea_power_station_copy.jpg
fretslider
Reply to  bonbon
April 8, 2022 9:14 am

Indeed the same

Vuk
Reply to  Scissor
April 8, 2022 10:44 am

… and home of half a dozen gin distilleries nearby and the infamous one way traffic system around the town hall.

bonbon
Reply to  Vuk
April 8, 2022 11:01 am

And a bank where I did some consultancy. Probably defunct since the 2008 crash,

Vuk
Reply to  fretslider
April 8, 2022 10:35 am

I’m told the Wandsworth has the lowest or one of the lowest council tax rates in the UK. In the next door Merton the council tax is nearly double and the rubbish is collected only every other week.
Half of Wandsworth is in ULEZ and no go for my 1992 Volvo, but fortunately Merton is not.
So if you wish to move to the area select one of the roads in Wandsworth at the boundary with Merton.

fretslider
Reply to  Vuk
April 8, 2022 12:01 pm

Merton?

Er, no thanks!

Observer
Reply to  Vuk
April 8, 2022 4:12 pm

Wandsworth does have one of the lowest council rates in the country… it’s still £1k per annum for the average house, tho.

R Terrell
Reply to  Ken Irwin
April 12, 2022 11:45 am

“They have to be voted or thrown out of office.” I’d go with ‘voted’ except that hasn’t been working very well lately!

joe x
April 8, 2022 5:36 am

I think there is a term to describe the current state of the economy. TUP. (Trickle Up Poverty )

David Elstrom
April 8, 2022 6:13 am

Unsurprisingly, government methodology for computing CPI has changed, with the result being lower headline CPI. Measured as the DC overloads did in 1990 inflation would be around 12%, and measured in pre-1980 terms it would be around 16%. A good rebuttable assumption might be that everything coming out of DC is some form of lie in whole or in part.

John Endicott
Reply to  David Elstrom
April 8, 2022 9:38 am

That assumes the “old” way was more accurate. The changes were to supposedly make the resulting calculation more accurate to reality (IE adding things like substitutions which people do when price rise and quality improvements which certain products do experience, that the old method didn’t account for). One can debate how successful the new way is at doing that, but assumption of bad intent is merely conspiracy theorizing in drag.

Observer
Reply to  John Endicott
April 8, 2022 4:19 pm

Funny how the new calculations always reduce the amount of inflation compared to previous methods.

Yes, as steak becomes more expensive, people eat more minced beef. That doesn’t mean steak hasn’t become more expensive, does it?

The other wheeze is “hedonics” – to compare (say) £300 TVs and note that this year’s model has “10%” more features, thus is 10% cheaper, even if the two sets both cost the same £300.

Oh,and not include things like house prices, or how much more you need to save into your pension to get a liveable payout when you retire.

Fiat currency is the root of (almost) all evil.

R Terrell
Reply to  Observer
April 12, 2022 11:53 am

Make that ALL evil! Not to mention inflation! By the way, WHY would anyone down vote your post on that?

R Terrell
Reply to  John Endicott
April 12, 2022 11:51 am

When Obama offered his ideas about CPI and inflation, It was assumed that he was trying to make HIS admin look better. It didn’t work and it sure didn’t fool anyone, especially people who actually BOUGHT food and fuel!

R Terrell
Reply to  David Elstrom
April 12, 2022 11:49 am

From what we’ve been seeing lately, I believe it’s more in ‘WHOLE’ than in ‘PART’! Just sayin…

Tom Halla
April 8, 2022 6:16 am

One has to remember, price increases on energy, to the greens, is a feature, not a bug.

Alba
April 8, 2022 7:19 am

Typical American “comedy”. The man says, “Inflation is our friend” and the canned laughter is immediately inserted. American “comedy” programmes would probably be half as long if all the canned laughter was removed.

H.R.
Reply to  Alba
April 8, 2022 7:38 am

Ummm, Saturday Night Live is always performed in front of a live audience. You were aware of that, were you not?

Your criticism of the taped programs holds up just fine, though.

John Endicott
Reply to  Alba
April 8, 2022 9:43 am

That wasn’t canned laughter, that was a live audience. What do you think the L in SNL means? In case you didn’t know, it means *LIVE* as in “Live from New York, it’s Saturday Night Live”

ResourceGuy
April 8, 2022 7:28 am

Good one!

ResourceGuy
April 8, 2022 7:29 am

Just don’t call it Bolivars or you could get censored on many social media platforms.

Truthteller
April 8, 2022 11:52 am

It is scary that once was parody is now policy.

n.n
April 8, 2022 3:04 pm

Progressive prices, unreliables [energy], mandates that follow the cargo cult, and the sanctions boomerang.

Doonman
April 9, 2022 8:40 am

Remember, Obama said in Jan 2008 “Under my plan, electricity costs will necessarily rise.”

Since Obama’s plan is the same plan Joe Biden has, what did you expect?

It’s time to wake up to the fact that Americans love higher prices and higher taxes. They keep voting for them, so that’s exactly what you’ll get.

Brad-DXT
Reply to  Doonman
April 9, 2022 11:42 am

There are some questions surrounding whether we actually voted in the latest disaster-in-charge.

R Terrell
Reply to  Doonman
April 12, 2022 11:57 am

The only ones who ‘voted’ for it are either DEAD or in the country illegally, or else they are DEMOCRATS, who will vote for any crook that runs under their banner! Their motto: ‘Vote early and OFTEN’.

Oddgeir
April 10, 2022 2:12 am

I have been following this space for decades. Western societies are trying to kick-start inflation to be able to increase interest rates and at the same time, to devalue their currencies. Only a long list of problems with it:

It ain’t working and it ain’t gonna work until the populous is accepting terms of poverty all as deep as-, and beyond levels seen in competing jurisdictions (Asia, Africa, South America).

Unless off course, a trade block is created (OECD) which can exist in a vacuum, which (vacuum) basically is established if you block out trade from all others.

Which (block out trade, competition) is well underways.

There will be pain. One such pain is that this trade block, OECD as a whole, is a couple of decades behind Japan trying to do the same. What happened in Japan?

Changes in taxes, introduction of new taxes took a toll on consumer confidence. As interest rate increase on top, implemented due to an alleged inflation increase, as the consumer had to pay higher taxes and higher interest rates…

Took a GREAT toll on consumer purchasing power. Consumer’s discretionary spending nosedived and inflation with it.

A couple of decades later, Japan consumer’s discretionary spending is still in the doldrums, the BoJ see no way out of “the troubles”.

This is what is in store for all of us.

Oddgeir

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