Electric rates are spiraling out of control. It is not clear why they have been rising at twice the rate of inflation for the past several years. The higher cost does not mean that we are paying for a new and improved product. It is the same electricity that we always have used – only the price is higher.
Since electricity is also a necessity, it is proper that it is subject to state oversight. But, somehow, Ohio has let us down and allowed the inflated prices. For example, our Legislature is addressing the skyrocketing rates by worrying about the less-than-one-percent of our electric bill that is due to renewable energy.
ELECTRIC RATES: Electricity Data Browser, http://www.eia.gov/electricity/data/browser/ (note: as of July, Rates have decreased one percent in 2016 compared to 2015)
INFLATION: CPI Detailed Report Data for December 2015, Table 24, http://www.bls.gov/cpi/cpid1512.pdf
RENEWABLE ENERGY COST: IEU-Ohio Mandate Cost Calculator, http://www.ieu-ohio.org/mandate-cost-calculator.aspx