As we prepare for a blast of hot weather, analysts say we should also prepare to pay high electric bills.
For the same reason it’s costing us more to power our cars, and now it’s going to cost us more to power our homes. Some 43 percent of New England’s electricity is generated by natural gas, and of course the price of natural gas is hitting new highs every day.
To make matters worse, experts say the demand expected over the next few days will drive prices up even more.
“What happens is there’s a price spike at the wholesale market, and then six months down the road, those prices tend to affect the residential market because that’s when they go for rate increases,” says Joyce McMahon, an analyst with an energy watchdog group called Affordable Reliable Electricity Alliance.
On this eve of what could be a heat wave, people are installing window air conditioning units.
“We usually run three air conditioners all summer because it gets hot in here, says Milford resident Danny Beals.
He knows that cool air comes with a hefty price tag.
“I think it’s outrageous. I don’t even understand how people are going to survive. I mean, it’s tough,” he says.
At Frank’s Appliances in Milford, crews have hauled in a new shipment of air conditioners. “We’ve had a lot of people come in and just buy them right off the displays,” says salesman Chris Strom.
Experts say conserving and shopping for energy efficient appliances, can help keep the bills manageable.
Check out 10 Tips To Save On Energy Bills
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