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Finance

When Is Electricity the Cheapest? How to Cut Down Your Electric Bill

As Constellation reports, fuel demand, current events, and geographic location can also impact your electricity bill. If your electricity comes from natural gas, for example, you’ll see higher rates when the demand for natural gas is higher. As for current events, Constellation cites pipeline shutdowns, natural disasters, and political unrest as precipitating factors for electricity price increases.

Electricity prices also vary by location. You might see lower rates if you’re close to a power plant or if your power plant is close to a fuel source. The EIA maintains a regularly updated list of average retail prices for electricity for all 50 states. In the most recent dataset, with data from 2019, the prices ranged from a low of 7.71 cents per kilowatt-hour (kWh) in Louisiana to a high of 28.72 cents per kWh in Hawaii.

View more information: https://marketrealist.com/p/when-is-electricity-the-cheapest/

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