How low can you go?: U.S. electric power prices decreased for the fifth straight year in 1998, falling at a faster rate than seen previously this decade. Average prices fell to their lowest mark since 1990, the Energy Information Administration said. Price declines were experienced across all major consumer sectors, including the residential sector.
“The average price for all electricity customers in the U.S. was 6.74 cents per kilowatt hour in 1998,” the agency said. New Hampshire, whose utilities depend on high-cost nuclear and non-utility power contracts, had the highest average price at 11.93 cents/KWh. Idaho, which uses low-cost hydroelectric generation, had the lowest average price for all electricity customers at 4.02 cents/KWh, EIA said. Overall, the national average monthly residential power bill dipped 2 percent-despite a 4.8 percent increase in average monthly electricity consumption last year.