Summer electricity bills will fall to their lowest level in four years, largely due to a milder forecast for June through August, the U.S. Energy Information Administration said today.
The average U.S. home will pay $395 to keep the lights on and the air conditioning flowing during the three-month season, a 2.5 percent drop compared to last year’s sweltering summer.
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The federal agency projects a 4.6 percent decline in power demand will offset a 2.2 percent jump in electricity prices.
Unfortunately, the news isn’t as good for residents of the Southwest, who are expected to shoulder the largest electricity bills in the country. The agency estimates that homes in the West South Central region — which includes Texas, Oklahoma, Arkansas and Louisiana — will shell out an average of $503 for electricity during the summer, a 1.9 percent increase over last year.
The federal agency believes residents in the region won’t trim their power use enough to outweigh rising electricity prices.