Tradition Energy Warns of Double-Digit Rate Increases Ahead for Electricity Supply

[The Straight Story]

Tradition Energy Warns of Double-Digit Rate Increases Ahead for Electricity Supply
Tradition Predicts Looming Rate Hikes for Retail Power

Tradition Energy Warns of Double-Digit Rate Increases Ahead for Electricity Supply

STAMFORD, Conn., May 12 /PRNewswire/ -- Tradition Energy, a full-service energy management advisor and one of the nation's largest energy procurement firms, advises power customers to expect big rate hikes in the price of retail electricity in the coming months.

"Natural gas and coal account for over two-thirds of the fuel used for power generation in the United States, and a number of factors in the wholesale energy market are driving the prices for these generation fuels higher and higher," comments Addison Armstrong, Director of Market Research and CNBC contributor. "An expected decrease in imports of liquefied natural gas, coal shortages in Europe and China, the potential for a very warm summer, and low levels of natural gas in storage in both the U.S. and Canada are all putting upward pressure on prices."

Rate hikes are forthcoming across the country, expected to be as high as 41% for commercial customers in some states by the end of the summer.

"Customers in regulated areas will have no choice to but pay the rates set by their utility," says Armstrong. "Organizations in deregulated areas have the option of shopping around for the best power supply options, and it's imperative that they do so. Decision makers also need to consider hedging against rising fossil fuels costs by purchasing energy generated from renewable resources and investing in improved energy efficiency measures."

http://sev.prnewswire.com/oil-energy/20080512/LAM01112052008-1.html

[Deja Q]

1. Time for solar panels on houses?

[The Straight Story]

3. I am starting to think I may become Amish

:rofl:

[angstlessk]

2. ya know, these commodity/trader people come on the news and predicts

this or that will go up dramatically..and whooosh...up it goes. AND it is the same people who will benefit from the increase...damn that makes it so very easy for them, don't it??