Saturday, September 5, 2009
COLUMBUS, Ohio — Consumers and businesses may finally be seeing some relief from rising utility bills, thanks to the biggest decline in U.S. electricity demand in decades.
Prices on wholesale markets are expected to decline for the rest of 2009, according to the Energy Information Agency. While rates will probably begin edging up again in 2010, it will likely be less than half the 6.2 percent jump recorded last year.
For decades as Americans bought more electronics, more appliances, air conditioners and other gizmos, energy demand has only moved in one direction and prices have followed suit.
The decline in power usage over the past year is a rarity and also an indication of how badly the recession has jolted the economy and changed the way Americans spend.
The shift began last year, when power consumption fell 1.6 percent. Government forecasters see consumption falling another 2.7 percent this year. That would mark the first time since 1949 that the nation has seen energy demand fall in consecutive years.
