Rising Power Supply Prices
Remember when public coal powered power utilities like Illinois Power, Union Electric and Central Illinois Public Service actually generated electricity. Those days are over and the successor, Ameren Illinois does not generate power or earn a profit on the cost of power. They purchase it wholesale through the Illinois Power Agency. Illinois has lost significant baseload electrical generation without having enough reliable energy sources or battery storage to backfill this hole. This is primarily because of the “War on fossil fuels” and supply and demand issues.
June, 2022 Ameren significantly increased their energy charges as follows; electric delivery 4.33%, electrical supply 114.59%, electrical taxes 26.62%, natural gas delivery 9.95%, natural gas supply, 25.54% natural gas taxes 21.71%. Total dollar cost of energy increased approximately 57% depending on your usage mix between electricity and natural gas.
The news media publicizes the increase in gasoline prices, but we do not hear much about the increase in utility costs. These prices will increase even higher if there is increase in demand due to the push toward electrical vehicles.