NC
Strategic Scorecard |
7.2.2 Power
Access |
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Target: Less
than 90% of US average aggregate electricity costs
Actual: 93%
of US average
US
Rank 2003: 30th (up
from 32nd in 1995)
SE
Rank 2003: 9th (down
from 7th in 1995)
SE
Region: AL
FL GA KY MS NC SC TN VA WV Updated
4/12/06
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| Primary
Performance Indicator |
Average Total Electric Price
Per Kilowatt Hour
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Performance
Trend:
The
trend depicts the degree to which actual
performance has approached the target in
recent years. |
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Comments
• |
Since
1995, NC’s average electricity prices for all
customers have increased slightly, yet remained below
the national average.
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• |
However,
NC’s electricity prices continue to be among
the most expensive in the SE region, perhaps due to
several factors, including the state’s stranded
costs attributable to prior nuclear energy investments.
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Definition
(What Is Being Measured)
Average
aggregate price of residential, commercial, industrial
and other electric service in cents per 1,000
kilowatt hours.
Source: US
Dept. of Energy, Energy Information Administration, Annual
Electric Utility Reports and Electric Power Monthly;
Corporation for Enterprise
Development, Development
Report for the States, Edison Electric Institute, Statistical
Yearbook or NC Utilities Commission |
Relevance
(Why This Is Important)
Average
electricity costs, a key indicator of power affordability, represent
a major cost of doing business and, as such, can materially impact
the state's economic competitiveness and corporate siting decisions. |
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| Other
Highlights |
| North
Carolina |
• |
NC’s
electricity costs for residential customers remain high
compared to other states. NC’s
electricity costs for industrial customers are slightly
more competitive. |
• |
In
2004, NC had the 42nd lowest average monthly bill for residential
customers in the US and the 5th lowest average monthly
bill in the SE (Source: US Energy Dept., Energy Information
Administration). |
• |
In
2004, NC had the 37th lowest electricity prices in the
US and 4th lowest prices in the SE for industrial customers
(Source: US Energy Dept., Energy Information Administration). |
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| Other |
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NC is home
to the 8th and 20th largest electric utilities in the US
(Duke and Progress Energy). |
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In 2001, NC had the
17th lowest industrial electricity costs in the nation
and the 4th lowest costs in the SE region for 500kW users
who need 200 MWh per month (Source: Edison Electric Institute,
Typical Bills and Average Rates Report, Summer 2001). |
| Southeast
Region |
| National |
| Global |
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Goal
7.2: Ensure
Abundant and Affordable Energy Sources |
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