Price of Electricity Up By Nearly Half Over the Last Decade

Virginia-based on-line news organization CNSNews.com reported late last week that the price of electricity hit a record for the month of October, according to data released a week ago by the U.S. Bureau of Labor Statistics. For the eleventh straight month, the average price of electricity hit or matched the record level for that month.

The average price of electricity in America last month was 13.2 cents per kilowatt hour (KWH), up from 12.8 cents per KWH in October 2012—and up from 9.3 cents per KWH in October 2003.

Americans now pay 42 percent more for electricity than they did a decade ago.

Put Guam's numbers in perspective.  Costs per KWH on island back in 2003 was $0.18. In 1995 it was just a dime per KWF.  Today that number is $0.26 and about to rise following recent bond issuances poised to pump in over $500 Million for the next couple of years.

The 15-year old journal, led by parent-company Media Research Center, reported that the 13.7 cents per KWH price of electricity of June through September 2013 was the most expensive electricity has ever been in the United States since BLS started tracking electricity prices in November 1978.

Did I say Guam's costs for electricity is a hair over a quarter dollar? Guam Power Authority has reported that customers consumed on average 11, 985 KWH.

In November 2012, electricity Nationwide was 12.7 cents per KWH, which was down from the 12.8 cents per KWH price of November 2011. But, in December 2012, the price of electricity stayed at 12.7 cents per KWH, matching the record monthly price of 12.7 cents per KWH that had been reached in December 2011.

In each of the ten months since December 2012, the price of electricity in the U.S. hit record levels for that month. Although the average price of electricity hit the all-time October record this year, the price in October actually dropped in the States from September, when it was 13.7 cents per KWH.

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