EIA: US Electricity Prices Increased by 4.3% During 2021

Posted by NYPH , March 3, 2022 - Industry News, Policy

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Author : Michael Tobias
March 1, 2022
4 Minutes Read

KEY TAKEAWAYS

  • The US Energy Information Administration reported an electricity price hike of 4.3% for 2021, the highest 12-month increase since 2008.
  • Between December 2020 and 2021, the EIA Electric Power Monthly report shows a 7.6% increase in residential and commercial kilowatt-hour prices.
  • Rising electricity prices affect building owners directly, but they also represent a greater opportunity to save with energy efficiency measures and renewable sources.
  • New York state in particular suffered a 6.8% increase in residential kWh prices, and a 9.8% increase in commercial kWh prices.

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