Although electricity prices in the UK aren't cheap some countries have it much worse. In this article I'm going compare internationally to look at who is paying more $/kWh for their energy. I’ve gathered some numbers and crunched a little data to see who is really paying a lot for their power. For my neighbour here in the UK I’ll add a bit more data at the end.
“The whole business model of the industry is to get people in on the promotional rates and then jack up their rate when the promotional rates end,” said Trent Crow, a former JP Morgan energy trader and founder of Real Simple Energy, a website that helps consumers find low-cost electricity plans. “I don’t think people realize how much they are overpaying.”
2of 3Cattle roam on a mesa near Iraan, Texas on the site of the Desert Sky Wind Farm. According to website Desert Sky Wind Farm® is a 160.5-megawatt (160,500-kilowatt) wind power generation facility located near the far West Texas town of Iraan, in Pecos County. The site includes 107 turbines, each rated at 1.5 megawatts (1,500 kilowatts) spread over a 15-square-mile area on Indian Mesa.Photo: John Davenport, Staff / San Antonio Express-News
Energy sellers must provide collateral to ERCOT to cover expected future costs of buying wholesale electricity and if the companies don’t have enough capital, they get shut down. Breeze Energy, a Dallas-based electricity retailer that sold wind-energy plans to 9,800 customers including many in the Houston area, got caught in that financial squeeze when it defaulted on its collateral obligations.
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