Electric may jump a 70% increase?

[farmwife]

It is past time to slowly get off the grid, but now we will have too! It amazes me how people are really going to afford it all! With insurance, high gas, high taxes, than whatever debt they have!

This was on our local news and the electric for our area here in PA! They want it to jump that high till 2009!

I think the next years we will see alot of people changing their lifestyles!

[Cindy in PA]

Just curious if you are with a First Energy company (Met-Ed, Penn Elect)? I know they are trying to get out of being locked in on rates until 2010. They have asked for a 24% increase as of 1/1/07 and more each year after that. I have no idea how we will cope with the increase. I understand that many other places in the country have seen increases already, but PA has been pretty isolated. They have not kept up with updating the system since deregulation a few years ago and now will probably get whatever they ask for. Electric companies all over now want the government to kick in for their neglect, so we will get hit that way also. Do not get me started on the electric company, as it is a sore spot and my mouth has to stay shut, because DH works for them! Suffice it to say that competition in the industry here simply created larger unregulated monopolies.

[Dubai Vol]

I was expecting an increase, so I was surprised to read this:

TVA Board Approves Rate Reduction

July 28, 2006

The TVA Board today approved a 4.5-percent reduction in firm wholesale power rates along with a fuel cost adjustment mechanism that will allow TVA to automatically adjust rates up or down as fuel and purchased power costs rise and fall. The rate reduction and fuel cost adjustment mechanism are effective Oct. 1.

The rate reduction is worth approximately $405 million to TVA customers in the 2007 fiscal year...

[Aintlifegrand]

Originally Posted by Dubai Vol

I was expecting an increase, so I was surprised to read this:

TVA Board Approves Rate Reduction

I may be wrong but what I really read here is: We will give a small reduction (4.5) so that we will have the flexibility to RAISE and lower with the market...which seems only to be on the rise.

[Dubai Vol]

I saw that too , but the adjustment doesn't start until 1/1/2007 and it will start at zero, so all the increases of the past few years are already absorbed. I'm not sure I'd bet either way where fuel prices will go in 2007.

[homebirtha]

A lot of customers in Maryland are going to see HUGE increases. BG&E and Pepco are increasing something like 60% because the rates were locked about 8 years ago. We have Alleghany so they haven't jumped yet, but I know they will. It makes solar look even more appealing.

[beowoulf90]

The 2009 date is for PP&L, and the 2010 date is for Met-Ed