Electric Rates By State -- EIA -- Most Recent Data For October, 2024

Locator: 44556ELECTRICITY.

Observations:

The New England numbers, particularly Rhode Island, were so egregious in the original post, I was wondering if I made a mistake in my math. Nope. 

Link here. Offshore wind comes at high cost to Northeast taxpayer.

Today, Rhode Island’s residential electricity costs nearly two and half times more than the U.S. average. Over the past decade, the state’s electricity prices have risen 81 percent, two-and-a-half times the rate of increase of the average U.S. residential price. Why is it so expensive? Renewable energy and green mandates. Is it going to get more expensive? Yes, and offshore wind will be the primary driver.

Link here. Offshore wind project will save New England taxpayers $3.75 / month / capita.

Link here. Same.

Original Post

Link here. 

From October, 2022, to October, 2024, two years later, residential electricity rates increased by:

• 65% in Rhode Island (this was a big story on the blog a year ago)
  
• 56% in California (charging all those EVs at night)
  
• 40% in Texas (that's what wind energy does for you)
  
• 26% in Virginia (largest LDC electricity draw in the US)
  
• 18% in Arizona (think TSMC)
• 13% in Minnesota (do they get a lot of electricity from North Dakota?)
  

Meanwhile, over the same period, residential electricity rates decreased by:

• 2% in North Dakota
• 5% in Missouri

The raw data has been double / triple checked as reported by the EIA. Calculations need to be checked; I often make simple arithmetic errors.

Just two of the many Rhode Island off-shore wind stories since 2014. If you want to see more, search on the blog: Rhode Island wind. This is exactly what happened to Germany.

From the blog, August 2, 2020:

Wind power: expensive! This is from the NY Post so almost "no one" will pay attention, but those who do will think it's a fake story -- wind costing upwards of $500 / MWh.

Of course, in North Dakota where coal and natural gas is used, one can see electricity as low as $30 / MWh. One can track electricity rates in New England and in New York.

From the linked NY Post article:

Consider Rhode Island’s 30-megawatt, six-turbine offshore wind project located off Block Island and operated by Deepwater Wind. A decade ago, Rhode Island’s public utility commission rejected the project, concluding that the sky-high prices it would charge the local electric utility would adversely affect consumers. Yet the Rhode Island legislature ignored consumer interests and forced the commission to approve a 20-year contract.

At the start, in 2016, the local utility paid $245 per megawatt-hour for the project’s electricity, with a guaranteed increase of 3.5 percent each year. In 2035, the last year of the contract, the price will be an eye-popping $470 per MWh. By contrast, the average price of wholesale electricity in New England last year was about $31/MWh. In New York, average prices ranged between $22 per MWh upstate to $51 per MWh in Gotham.

Elsewhere, the dozen offshore projects now under development have lower-priced contracts, but they are still far higher than market prices. In New York, the first-year prices for the 816 MW Empire Wind and 880 MW Sunrise Wind projects will be $99/MWh and $110/MWh, respectively. And that’s cheap compared to electricity from some other wind projects in the Atlantic, which range from $77.76/MWh to $202/MWh.

From the blog, December 18, 2016:

A big "thank you" to a reader spotting this one. From IER, December 16, 2016, a most expensive offshore wind farm becomes operational. Data points (these are my original data points; some are in error, see updates above):

• off the coast of Rhode Island
• Block Island Wind Farm
• 30 MW facility -- repeat, a 30MW facility
• five large offshore turbines; GE Renewable Energy; operated by Deepwater Wind
• to supply energy to 1,000 full-time residents of Block Island (this was an error; see update at link)
  
• years and years of state / federal / town hall meetings / yada, yada, yada
• $300 million 
• $10,000/kw
• 10 times more than the cost of a new natural gas combined cycle unit
• 58% more costly than what the EIA expects a first-of-a-kind offshore wind unit to cost

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The Book Page

So, what am I reading during the holiday break?

A Hell of a Storm: The Battle For Kansas, The End of Compromise, and the Coming of the Civil War, David S. Brown, c. 2024. 

The New India: The Unmaking of the World's Largest Democracy, Rahul Bhatia, c. 2024. Part of the trilogy I have put together.

The Greeks: A Global History, Roderick Beaton, c. 2021.

Sharks of the World: A Complete Guide, David A Ebert, Mare Dando and Sarah Fowler, c. 2013. With Sophia. 

The Shakespeare Guide to Italy: Retracing The Bard's Unknown Travels, Richard Paul Roe, c. 2011.

The Greeks: A Global History, Roderick Beaton, c. 2021.