Electric Bills Lower in Shaky Economy

It takes the loss of 15 million jobs to lower electricity bills. For the first time since 1949, power bills have declined for two consecutive years by 1.6 percent last year, and this year the decline may reach up to 2.7 percent.

According to Mark Williams, AP energy writer, the relief in energy bills is based on a large decrease in energy demand. He believes this unusual drop in power usage is glaring evidence of the depth of the economic recession.

The drop in power demand comes from the manufacturing sector, estimated to be 10 percent. The industrial sector dropped 20 percent in parts of the south. What this translates to is lower or flattening electric bills for household consumers.

Enjoy it while you can. If/when the economy rebounds, your power bill goes up again along with it.