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2. Money printing made nominal prices go up - not new technology.
Real electricity prices are roughly 1/10th what they were a century ago.
3. Real prices would be even lower today if it weren't for rising transmission and distribution (T&D) costs.
Generation has gotten and continues to get a lot cheaper.
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4. Transmission isn't the expensive part of T&D. Distribution is 2/3 of the cost.
High distribution costs are a result of high peak residential demand.
To see lower real prices for consumers, we need to lower peak demand.
5. HALF of peak demand is heating and air conditioning.
Residential demand is ~5x higher on a peak day vs a normal day.
We have to build distribution to serve that full peak, even though we normally use 1/5 of that capacity.
(chart shows Texas, but it's a similar story
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6. Volumetric pricing is the root of all evil.
We don't allow consumers to internalize the savings of energy efficiency measures that lower peak demand, so everybody consumes more at peak and then everybody pays more.
We need accurate price signals to allow consumers to make
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7. We need rates that reflect reality so that consumers can make decisions that align with reality.
We should be enjoying the benefits of cheap, abundant electricity generation.
We have to stop sabotaging ourselves with socialized pricing.
8. Also, we can get a lot more out of our existing infrastructure by increasing off-peak demand.
Smart EV charging would allow us to electrify every car in the U.S. without increasing peak demand.
Smart electric water heaters can heat water when capacity is underutilized and
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My $0.60 price is Bay Area is crazy though... PGE is a monopoly that needs to be disrupted.
Researchers found that people with upper gastrointestinal conditions were far more likely to develop Parkinson’s disease later in life.
An increase in real prices since the early 2000s. Where was the productivity gain?
Lower generating costs were offset by higher distribution costs.
We need accurate price signals to get back on track.
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Jesse Peltan
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@JessePeltan
Replying to @JessePeltan
3. Real prices would be even lower today if it weren't for rising transmission and distribution (T&D) costs.
Generation has gotten and continues to get a lot cheaper.
In 1960, how many electrical appliances were families relying on compared to today?
We use a lot more electricity than we did in 1960, due in part to electricity getting so much cheaper.
Yes. We need to fix the broken price signals so it can start going down again.
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You understand what nominal price means? That’s the price people paid, so about 3 cents in 1960.
The only thing that keeps the inflation created by infinite money printing a bit in cheque is technological innovation and increased efficiency.
That's the price they paid when the median household income in the U.S. was $5,600
It was $80,610 in 2023.
Money printing definitely causes inflation, but labor prices also experience inflation.
California is closer to a fever dream than real life. At least its policies are.
Here's electricity, nat gas, and fuel oil.
Last chart shows residential consumption over time.
So what you are really saying is privatisation caused prices to massively increase.
No. Generation has gotten cheaper, both private and public.
Rising distribution costs are driving residential prices. Distribution utilities are public.
The reason distribution costs are going up is that more people are using air conditioning and more people are heating with
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I don't think you realize how expensive it is places that have the most EV like Denmark and Germany and that its gotten more expensive en Europe exactly because of the reliability of gas from other countries than their own.
It looks like Hungary, Norway, Malta, and the Netherlands had the steepest drops in electricity prices over the past 10 years.
Let's see what happened to their generation mixes.
EVs have the highest market share in Norway, Iceland, Sweden, and Finland.
Jesse, not sure if you can dig out an equivalent for here in the UK but I got rinsed by Trolls on Facebook following a post I put up against a BBC newsreel showing the last coal powered station being closed (see attached images 
)
Nostalgia is, and has always been, a powerful
)
Nostalgia is, and has always been, a powerfulShow more
In many countries which use collapsing bottom-tier fiat currencies, sadly the local nominal rise in price vs wages has totally crowded out any real gains
Decline probably BECAUSE of cheap coal. I’m guessing that decline in real prices in late 80’s-90’s was probably dereg of US gas prices in 1985 and then pipelines in early 90’s, plus US #coal rail rate dereg, rise of western coal production and a bunch of coal plant construction.
Looks like we bottomed in or around 2000-2004, in real terms.
Ref.: "MSFT sets new floor at 12¢/KWh"
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adam (bc1984)
@bc1984adam
New floor for energy prices set by MSFT: 12¢/KWh.
- If you're paying less, consider yourself lucky (or smart!) x.com/Atomicrod/stat…
Have you factored fixed costs in this?
In my part of the world we have declining block tariffs but lots of service charges
Oil has been at the same nominal price since 2006
Electricity is the kind of product where nominal prices should be going down over time, not up
Yes - coal plants burn abrasive rocks for energy, which turn into abrasive ash and corrosive flue gas. Whatever those materials touch wears out. Plus it takes a fair amount of human effort to move coal and ash around.
So cheap(er) fuel doesn't necessarily equal cheap opex.
Get higher quality products more efficiently in Southern Alberta.
Growth has accelerated as we have developed efficiencies in farming operations and improved crop and livestock techniques.
saiti.ca
#NetZero #Renewables #SolarEnergy
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So much for that, and so much for nuclear fission too.
Real ramp up these days is solar and wind plus batteries, unless you're going past Saturn.
Not only that, but our appliances and stuff are so much more efficient that we get way more bang per kWh.
I've been digging into historical energy prices too and it's amazing how much cheaper electricity is today. That "good old days" narrative just doesn't hold up.
Remember when electricity was first offered it took a weeks wages to pay for the lighting??
That chart shows no decrease in real electricity prices for over 30 years despite, supposedly, cheap solar and wind.
people dont understand that the more expensive that building a particular power source is - the higher your power bill will be. Even old coal fired power stations had to be paid for.
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We still have cheap coal and cheap gas. Natural gas literally sets the price of electricity. The shale revolution and the oil and gas industry drive this chart.
People used to think before they turned a light on. I still can’t use my oven for just one item.
Yep. Gas is cheaper too, when you consider:
1. People have more cars.
2. More people are driving cars.
3. Cars get way better gas mileage.
4. We almost never run out of gas.
It’s almost like make America great again is a racist trope pointing to a time that only exists in a groups head when they were unquestioned.
What’s the utility Return on Investment by year with these real price drops? Is it getting harder to create returns for investment in generation?
Everything is cheaper and getting more affordable each year priced in sound money such as gold ounces or satoshis.
Fiat currency has to be debased by central planners to propagate their debt markets.
Hence the impoverishment of earning and saving in state credit.
Put our think tank to work for your business.
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Nebraska with the cheapest power in the US (10c per kwh) gets almost half its power from coal. California which has the most expensive power in the continental US (33c per kwh) gets 2.5% of its power from coal. Hmmmmm
ACCC showed the cost of electricity was reducing, but I can assure you I am now paying much more than 5 years ago.
Shame the author doesn't know it's kWh not kwh. Yes, it matters. One is a unit of measurement, the other is a collection of letters.
No shit economies of scale and efficiency of production make things cheaper in real terms
My electric bill specifically went up due to "green energy," which was billed as a separate charge in a very intentionally confusing pricing scheme.
I opted out of the "green energy" add-on once I caught on, but the old price is gone for good.
"This commodity has doubled in price since 2000, but our overall inflation record is ALSO so sh*tty that you shouldn't complain because it's not that bad in real terms!"
Not only that, but most devices that use electricity, due partially to government efficiency regulations, have cut their consumption and work far better than a couple decades ago. Light bulbs, refrigerators, etc.
Take your ag business to where ag tech is cutting edge.
Southern Alberta is recognized for its entrepreneurial & progressive farmers who experiment with new specialty crops, new equipment & advances in precision ag.
saiti.ca
#Renewables #Emergingtechnologies
Easy to miniplulate the data to suit. Forgot to factor in changes of primary fuel used to heat homes over the period, the ever increasing stealth costs, standing charges and vat etc
ok, can you plot electrical energy consumption per household over this period. I want to see how much energy we used to light a bulb in 1960, vs refrigerator, furnace, electric car, air conditioner, computers etc. in 2024
Doesn’t matter what it was in 1960? Let’s see what impact today’s system has on households and explain to vulnerable people this winter why they’re paying so much. I’m sure respiratory problems and fuel poverty existed in 1960 as well.
“The party told you to reject the evidence of your eyes and ears. It was their final, most essential command...” - George Orwell
No, cheap propaganda is when you claim wind and solar is cheap. Coal, gas and nuclear was cheaper, but you’ve supported knocking one of those out of the system. Hooray?
New level of boolshit. For those who don't remeber. I didn'tpay bills in the 60-ties but I did in the 90-ties. Just compare term and prices paid to gas power plants and solar and wind today.
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Maybe blue states should let people build homes.
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Stefan Schubert
@StefanFSchubert
The 2030 reapportionment of congressional seats and EC votes is projected to lead to big changes.
States where Trump currently leads could together gain 13 seats, whereas states where Harris leads could together lose 13 seats. (Another forecast puts the number at 14.)
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Good morning with good news: Battery storage in CAISO (most of California) is 10,219 MW and growing.
CAISO Battery capacity is equal to ~19% of its 2024 peak demand of 52061 MW! Wow!
Battery discharge record of 8,354 MW was set at 6:10pm on October 7th! Credit
1. "cats kill 10,000 times as many birds as wind turbines!"
"yeah but cats kill small birds! wind turbines kill endangered birds like eagles!"
I've seen this same exchange hundreds of times and it always stops there.
Here's what's missing...
Klein was 100% right to say this - it's simply absurd to describe any country where millions of its subjects are denied the right to vote on the basis of ethnicity as a liberal democracy. I can't believe I even have to debate this with people!
