Price of Electricity Hit Record High in U.S. in 2014
(CNSNews.com) – Even as gasoline prices plummeted and the overall energy price index calculated by the Bureau of Labor Statistics declined, electricity prices bucked the trend in the United States in 2014.
Data released today by the BLS indicates that the electricity price indexes hit all-time highs for the month of December and for the year. 2014 was the most-expensive year ever for electricity in the United States.
The annual price index for electricity, published by BLS today, was 208.020. That was up from 200.750 in 2013.
The seasonally adjusted electricity price index for the month of December was 210.151, according to the BLS. That sets an all-time record for the seasonally adjusted monthly electricity price index. The previous high was 209.341 in March of this year. In December 2013, the seasonally adjusted electricity price index was 203.740.
The average price for a kilowatt hour of electricity in the United States was 13.5 cents in December. That is the highest average price for KWH of electricity in the month of December since the BLS started recording the December monthly price for a KWH in 1978. In December 2013, the average price for a KWH was 13.1 cents.
The average price for a KWH of electricity tends to hit its annual peak in the summer months, decline in the fall, hit its nadir in the winter and rise in the spring. In 2014, the average price for a KWH hit a record high for that particular month in each month of the year. In June, July and August of this year the average price of a KWH hit 14.3 cents—its all-time high for any months on record.