Summer electric bill shocker coming

Summer electric bill shocker coming

Nick Loris appeared in Fox Business‘ Daniella Genovese’s reporting on electric bill increases this summer.

“‘The higher price is largely driven by supply and demand,’ Nick Loris, vice president of public policy for C3 Solutions. ‘Particularly with natural gas, which provides 38% of our electricity needs, we’ve been operating in an environment of constrained supply and higher demand.’

When the pandemic hit, ‘prices were low and remained low, so there was not much of an incentive to supply more,’ Loris said. ‘As the economy opened back up, demand increased and outpaced supplies. Russia’s invasion of Ukraine made things worse.'” 

“In particular, experts ‘are warning it could be a particularly expensive summer for the northeast, Loris added.” 

Read the full article here.

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