How will this affect your electric bill?
Nuclear is by far the most cost-effective way our power companies produce electricity. Coal plants are also to continue to close in 2021 as well, total shut down amounts to 9.1 gigawatts 5.1 gigawatts from nuclear. So, what does this leave for electricity production from the power companies? Natural gas.
Currently natural gas costs are fairly low, but for how long? With talk of more regulations and uncertainty concerning fracking, who knows when the cost of natural gas will go up.
Historically electricity rates generally average out to increase 3% per year with some more than others. I believe that over the next couple of years that it’s very possible that energy costs could double.
If you run a business or a facility with larger energy use, would it make sense to see what options there are to hedge against soring energy costs when government incentives are at their highest?