🌡️ Feeling the heat? As the outside temperature climbs, so does our electricity usage, especially if we are not changing our habits. This summer, media houses in the United States (US) are reporting that the cost of keeping cool is expected to rise nearly 8% in the US, with average bills significantly higher than in previous years (Reuters, June 2024). Rising electricity consumption and rising temperatures are a global problem. You can try this quick exercise to test your consumption: 1. Turn off your A/C for a day or the longest period possible (make note of the date and time). 2. Check your consumption on the MyCUC portal here by clicking on the "customer connect" button: bit.ly/45uRGyI 3. What was the decrease in consumption? 4. What is the approximate monthly impact? Tracking your electricity consumption will lead to better energy monitoring in your home, which in turn, will help save you money. Stay informed and prepared for the upcoming months. Let's work together to find energy-efficient solutions and manage our usage wisely. For more information, please read this article: reut.rs/3z5Vv0Z #CUCCayman #EnergyTips #SummerSavings
Caribbean Utilities Company, Ltd.’s Post
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🔗 "25% of Brits Consider Turning Off the Heat in Winter - OilPrice.com" ----------------------------------------------------- Hey everyone, did you know that 25% of Brits are considering turning off their heating this winter to save money? The cost of energy is becoming a real concern for many households, and it's prompting people to think about extreme measures to cut back. Check out this thought-provoking article from OilPrice.com for more insight into this issue and the potential impact on the energy sector. It's a reminder of the challenges people are facing in managing their heating costs. Let's use this as an opportunity to start a conversation about energy efficiency and the challenges of winter heating. What are your thoughts on this? #EnergySector #HeatingCosts #EnergyEfficiency https://ift.tt/ctrN9oZ
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Happy autumn! 🍂 We love this time of year because as the temperatures dip from peak summer levels, electricity prices also usually experience a very welcomed dip. Electricity market rates typically tend to be higher in summer and winter because people use more electricity for air conditioning and heat. Keeping up with fluctuating market rates can be timely. That's why we track them and let our clients know when rates are expected to be higher than usual so they can better plan to avoid peak prices. 📈 This is one of many ways Chrislynn can help as your energy partners. Learn more about our expertise 👉 https://loom.ly/g5pg4ls _____________________________________________________________ #utilitiesmanagement #utilitiesmanager #energymarket #energyconsumption #energycosts #energyanalysis #transmissioncosts #transmissionrates #energyusage #seasonalconsumption #autumn #energymarket
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Off-peak prices happen when demand for electricity is generally lower, and Mid-peak is during the day when demand is moderate. On-peak pricing is in effect during the busiest times of the day when the grid is in highest demand. These price periods change between summer (May 1 – October 31) and winter (November 1 – April 30) when our needs for electricity change. No matter which season, on weekends and holidays the cheapest rates are in effect all day. To take a closer look at the TOU price periods take a look at https://lnkd.in/gzjx-P77
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Ever wondered why electricity prices change throughout the day? With Time of Use (TOU) rates, the cost of electricity varies based on when you use it. Here’s how it works: Peak Hours: • What: Times when electricity demand is at its highest, like during the late afternoon and evening. • Why: Prices are higher during these periods because the grid is under more strain as people return home and use major appliances. Off-Peak Hours: • What: Times when electricity demand is lower, such as late at night or early in the morning. • Why: Prices are lower during these times due to reduced demand and excess capacity available on the grid. By shifting your energy use to off-peak times, you can save on your electricity bill and help balance the load on the grid. It’s a win-win for your wallet and the environment! Learn more about how TOU rates can benefit you: https://lnkd.in/esDw3dhD #CommunityPowered #HometownUtility #PublicPower #ConnectedToConservation
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Heat pumps only work in new homes (❌), are louder than a fridge (🤔) and are less efficient than gas boilers (🤦♂️). Between one and two in five people believe each of these provably untrue myths, according to research Good Energy ran recently. We're up against an information war here. And the news today that the UK's gas networks are leaving the ENA — the trade body they share with the power networks — suggests we are in for many more battles. Like we've seen with EVs, I don't think there is some media conspiracy on this, at least not one devised by the media themselves. Under-resourced, under-researched, click-driven outrage journalism is being weaponised by interested legacy parties. It's the same thing we've seen over and over again and is incredibly frustrating to watch in real time. As with EVs we can battle against it but unfortunately nuanced 'EVs/heat pumps are actually better in most ways' headlines are much harder to pitch than 'NEW STUFF BAD'. #misinformation #heatpumps #journalism #fakenews #decarbonisation #climatedelay #climatechange #netzero
Is the war against heat pumps just a lot of noise?
heraldscotland.com
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Juneteenth posed unique challenges during the heatwave in PJM last week. As a relatively new federal holiday, Juneteenth affected electricity demand patterns and complicated forecasts. Read our latest blog for a complete overview of last week’s forecasts! ☀️ https://hubs.li/Q02DsPWs0
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As temperatures rise, so does the demand for electricity. During heat waves, this increased demand can significantly impact the price of electricity. Understanding this dynamic is crucial for businesses and investors to manage their energy costs. So how exactly do high temperatures affect futures and spot market pricing during these scorching periods? 🔗 Learn more here: https://bit.ly/3SGxmW1 #heatwaves #energymarket #energyprocurement
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Increased heat pump uptake is fantastic news. But is it correct to equate this to increased demand? Maybe, in simple market terms, but more importantly do more people want heat pumps now than they did a couple of years ago? If real desire isn’t there, then demand will fall once grants dry up. Which they must eventually do. The importance of last year’s increased grant value is that at £7500 you achieve cost parity with gas boilers - the consumer ends up paying the ballance of ~£2500 whether they go for a boiler or ASHP. This changes the whole game, attitudes might shift from “I want what’s cheapest”, to “yeah, why not”. There’s a serious downside to this: if the main barrier to uptake has been removed, essentially, then current uptake levels might reflect an upper limit to demand without further incentivisation or mandate. If that is true, the implications are huge. It means that a mass market for heat pumps cannot be achieved by market forces alone, demand simply isn’t powerful enough. Many financial measures that are described as incentives do not actually incentivise new demand, they just lower barriers blocking existing demand. I’d love to see a regression, discontinuity analysis of both ‘uptake’ and ‘demand’ following last year’s change in value. But then, I’m a nerd.
Heat pumps in demand as grant applications soar by 75%
gov.uk
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Today is #CutYourEnergyCostsDay - a great way to help the environment and your bank account! Understanding how Time-of-Use (TOU) rates work is a first step towards helping to manage your electricity costs. Shifting your electricity usage to times when electricity is cheaper is one way to lower your electricity costs. https://lnkd.in/eE-KrxXt
Managing costs with Time-of-Use rates | Ontario Energy Board
oeb.ca
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I posted recently about the ‘spark gap’ and the uptake of heat pumps in some countries compared to others. Currently, in the UK, the electricity and gas price ratio is 3.97 which is the highest in Europe. A recent report, by the European Heat Pump market, illustrates that those European countries with a high ‘spark gap’ (the ratio between household electricity and gas prices) also have a lower annual total of sales of heat pumps per household. A significant contributor to high electricity prices in the UK is the disproportionate application of Environmental and Social Obligations – often referred to by the Government as ‘policy costs‘ and known commonly as ‘green levies‘. Domestic electricity consumers, bear around 85% of these levies, which means a typical heat pump consumer pays £170 more than an equivalent gas boiler consumer in levy costs per annum. Read all about it here: https://hubs.ly/Q02MVYF90
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