U.S. Power Rates to Double Over Next 5 Years

[jpak]

http://energytechstocks.com.previewmysite.com/wp/?p=1498

Leading Wall Street electric utility analyst Dan Scotto predicted U.S. electric rates will double within five years due primarily to lack of supply. The increase will be on top of a 25% rate rise Americans have had to endure over the last few years, he said.

In Part 2 of his exclusive four-part interview with EnergyTechStocks.com, Scotto said virtually all regions of the U.S. will see rates double, the exception being California, which he said has already experienced much of the increase still to be felt by the rest of America.

Scotto said that, just as global oil supplies aren’t keeping up with skyrocketing demand, power plants aren’t being built fast enough in the U.S. to keep up with rising electrical demand. Moreover, just as aging oil wells become less productive, America’s power plants are becoming less efficient as many near the end of their economic life.

Scotto said new power generation technologies being counted on, such as wind power, are more costly than coal and nuclear power. Also, they are still essentially unproven technologies susceptible to mechanical failures.

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[ixion]

1. which is why Congress continues to stall on encouraging alternative energy

they have to protect the interests of those to which they're beholden: Big Energy.

Really, though, this is a great reason for people to start getting serious about distributed energy systems.