Electricity prices down in 2012 compared to the year before

Wholesale electricity prices EIA Energy Information Administration

Photo courtesy of Shutterstock

Average, on-peak electricity prices throughout the United States were down in 2012 compared to 2011, according to an EIA report released Jan. 9.

The low price of natural gas and generally mild temperatures throughout much of the year contributed to the price drop. Off-peak prices were down as well, except in California, where the extended outage of the San Onofre nuclear plant affected wholesale electricity prices regionwide.

Despite the across-the-board drop in average wholesale electricity prices, prices spiked a number of times over the summer due to extraordinarily high temperatures in some areas.

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