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Excuse my ignorance, but am I, as a California residential user, going to pay these prices for the electricity I'm using in my home right now? Should I shut everything down?
Earlier quoted context omitted.
I'm surprised by this. I would have guessed lots of solar there and potentially wind.
Substantial amounts of solar coming online in Hawaii, causing the utility to carefully manage additional distributed solar installs [1]. Still expensive because there is much diesel and coal generation (~2GW) left to displace. [1] https://www.hawaiianelectric.com/clean-energy-hawaii/integra... (red = saturated local electrical infra)
it's bitcoin miners turning on server farms.
Do wholesale prices directly translate to consumer prices?
In Texas and other deregulated markets, you can be on either a fixed rate for n months or on a variable rate. If you're on a variable rate, the rate will be much higher than normal for the next few months. If you're on a fixed rate you're fine for now, but keep an eye on when your fixed rate expires. This assumes that your supplier is still in business after the next few months (many suppliers will go bankrupt because of this). For the suppliers, they're going to be hit hard by people who either decide not to pay their supplier next month, or have people who switch to budget billing. They're going to suffer a cash crunch for a bit.
If you are in a regulated market or are using the regulated utilities like ConEd in NYC, you'll see limited rate increases to deal with the increased cost to supply. These rate increases need to be approved by the state's Public Utility Commission.
I track my electricity in Chicago pretty regularly and we’ve been seeing between 5x and 100x ‘normal’ pricing all week. For scale, at this time of night I’d expect my power to be priced at ~ 0.8 c/Kwh. Right now we are sitting at 15 c/Kwh.
Here in CA we pay 24c / Kwh on a regular basis. Why is it your power can be 0.8c/Kwh?, that seems really really low.
I put the hourly numbers on a couple of dashboards around my house populated by this api https://hourlypricing.comed.com/hp-api/
I track my electricity in Chicago pretty regularly and we’ve been seeing between 5x and 100x ‘normal’ pricing all week. For scale, at this time of night I’d expect my power to be priced at ~ 0.8 c/Kwh. Right now we are sitting at 15 c/Kwh.
Here in CA we pay 24c / Kwh on a regular basis. Why is it your power can be 0.8c/Kwh?, that seems really really low.
Excuse my ignorance, but am I, as a California residential user, going to pay these prices for the electricity I'm using in my home right now? Should I shut everything down?
Excuse my ignorance, but am I, as a California residential user, going to pay these prices for the electricity I'm using in my home right now? Should I shut everything down?
Likely, no, as your rates have been set some time ago.