Each year, the U.S. Department of Energy designates October as National Energy Awareness Month, which serves as a reminder to be conscious about our energy use during this month and every month. Energy is a vital source to every aspect of our lives and is what keeps our country going. We depend on energy to power our homes, businesses, hospitals and even water systems that purify our drinking water. It is important that we recognize the importance of energy in our everyday lives and understand why energy is a critical resource that fuels our health, economy and infrastructure.
RESA recently published competitive and monopoly energy price trends from the U.S. Energy Information Administration (EIA). The EIA data shows that over the past 10 years (2011 to 2021), competitive residential retail energy use has nearly doubled and now serves almost 15.5 million customers nationwide. In states with choice, businesses are overwhelmingly choosing to go to the market with more than 85% of the non-residential supply requirements being served by retail suppliers. During this same period, the average power price in the competitive states/jurisdictions rose by 4.6%, while the rates for this same customer group in the monopoly states increased by 18.6%.
Energy is an essential factor in preserving our country’s prosperity and security measures. This year, many Americans have experienced a dramatic spike in their energy costs, reinforcing the reminder to proactively manage energy usage and make energy efficient choices. For the 28 percent of Americans living in a choice state, we remind you how important it is to review your current energy plan and prices and shop for the best plan to meet your individual needs.
To learn more about energy options in your state, visit our webpage at: https://www.resausa.org/energy-by-state/.