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Friday, August 16, 2024

Big Story Today -- Electricity Demand Surging -- California -- Friday, August 16, 2024

Locator: 48431ELECTRICITY.

Electricity demand surging: great interactive article in The WSJ today. Link here

Which immediately takes us to California: link here.

Re-posting:

Electric rates tracked here by the EIA

Residential electric rates, cents per kWh, May, 2024, for selected states:

  • Massachusetts: 28.70
  • New York: 23.60
  • Ohio: 16.65
  • Minnesota: 15.69
  • North Dakota: 13.04
  • Florida: 13.63
  • Tennessee: 12.46
  • Texas: 14.74
  • Montana: 13.26
  • California: 34.31 (no typo) -- it was 29.80 a year ago -- a 15% increase in price y/y!
  • Washington State: 12.16 (think hydroelectricity)
  • Alaska: 25.02
  • Hawaii: 44.14 (and a question whether Hawaiian Electric might go bankrupt)

But, cost of electricity is like the US postage stamp: for residential demand, it's not the cost/kWh, it's the amount of electricity actually used per household/month. For US postage stamps, it's not the cost per stamp, it's the overall cost of mailing for non-commercial users. See household demand by state at this link. Average monthly use by household:

  • California: 542 kwh 
    • almost half that of high use states
    • (only Hawaii is lower at 531)
  • Florida: 1,096
  • Louisiana: 1,192 (highest)
  • Minnesota: 776
  • North Dakota: 1,041
  • Texas: 1,094

Coincidentally, this was posted yesterday:

Which takes me to SRE. Ticker:


And pays 3%. And increases dividend regularly

ERCOT: link here. Holding, but will be challenging through the rest of the month of August.

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