Utilities get to pass through fuel prices, which means customers have
been bearing the burden of higher natural-gas prices that surged
following Russia’s invasion of Ukraine. On average, monthly electricity
prices rose 13% in 2022 from a year earlier and 6% in the first 11
months of 2023, according to data from the Labor Department. ... Utility commissioners are either appointed by elected officials or
elected themselves, which means they are sensitive to the financial
pressures that ratepayers face. ... utilities were quick to ask for an increase on the allowed return on
equity when market measures of capital cost rose yet slow to adjust
rates when those measures declined.
Has the natural gas portion of your utility bill dropped 60% like the price of natural gas in 2023 from 2022? Mine sure as hell has not.
Here are the average prices per year for Henry Hub natural gas:
2015: 2.62
2016: 2.52
2017: 2.99
2018: 3.15
2019: 2.56
2020: 2.03
2021: 3.89 +91.6%
2022: 6.45 +65.8%
2023: 2.53 -60.7%
That 92% jump in 2021 had nothing to do with Ukraine.
We're being gouged for green energy tomfoolery.
COMPLAIN, not to the utility, but to the utility commission. It's the only way.
In Michigan, go to:
https://www.michigan.gov/mpsc
