Vermont electric bills jump 20% during pandemic
Vermont takes the number-one spot for highest electric bill increase (20.8%) during the first six months of the pandemic according to the home valuation website ownerly.com’s analysis of EIA (Energy Information Association) data. The average bill for Vermont came in at ($108.74). The state’s electric bill growth rate (20.8%) is over five times the national average at 3.8% (year-over-year) for the first 6 months of the pandemic.
Vermont households spent $36,612,400 more on electricity, from March through August 2020 compared to the same time period in 2019.
Addison County is serviced by two main energy providers, Green Mountain Power Corp and Vermont Electric Cooperative, Inc. Each showing significant differences between the increased usage and the company revenue due to resulting price changes for the consumer.
Both Green Mountain Power Corp and Vermont Electric Cooperative, Inc. consumers showed an increased usage of 8%, while more residents stayed home and used more electricity during the pandemic, however, the companies showed revenue increases of 26% and 10% respectively increasing the cost to consumer (16%, 3%) and driving up the cost of bills from March to October
Americans overall saw their average household electric bill go up nearly 4% in the six months since pandemic restrictions began in March, according to an analysis by Ownerly. In total, American households spent $5 billion more on electricity in just six months, during the pandemic. According to data examined from the U.S. Energy Information Administration (EIA) for the first six months of the pandemic.
Want to know how Vermont compares to other states? Check out the interactive state-by-state map for electric bill changes during the pandemic on Ownerly’s website.
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