Cost of Electricity in Michigan
Some, but not enough, have been attempting to inform the citizens of Michigan what the cost of shutting down coal plants will mean to the cost of electricity.
Well now we have the data, according to a report from the Mackinac Center of Public Policy the cost of residential electricity in 2001 was 8.26 cents per kilowatt-hour in 2016 it jumped to 15.3 cents. That is an increase of 85% over those 15 years.
According to a website named in2013dollars:
According to the Bureau of Labor Statistics, the dollar experienced an average inflation rate of 2.05% per year. Prices in 2016 are 35.5% higher than prices in 2001.
That means our electricity rates in Michigan has risen almost 50% higher than inflation over that time period.
The cause for the increase above inflation is due to our dependency on renewable forms of energy which are more expensive such as wind and solar.
Do you believe that increase cost was and is worth the switch over to renewable energy sources?