Penn State Ag Sciences Newsline -- January 22, 2008

Pennsylvanians should prepare now for climbing electricity rates (:43)

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Suggested Intro:

RATE CAPS THAT HAVE KEPT THE PRICE OF ELECTRICITY RELATIVELY LOW IN PENNSYLVANIA ARE SET TO EXPIRE, AND AN ENERGY EXPERT IN PENN STATE'S COLLEGE OF AGRICULTURAL SCIENCES URGES CUSTOMERS TO GET READY FOR HIGHER COSTS. GARY ABDULLAH HAS THE STORY:

Story:

(:15) SINCE ELECTRICITY DEREGULATION WAS APPROVED IN 1996, MOST OF THE STATE HAS SEEN RATE CAPS ON THEIR ELECTRICITY PRICES. SO PENNSYLVANIA CONSUMERS HAVE SEEN ANNUAL RATE INCREASES OF FIVE PERCENT OR LESS, SAYS PENN STATE AGRICULTURAL ENGINEER DENNIS BUFFINGTON:

Buffington Actuality:
(:15) "AND THIS OCCURRED AT THE VERY SAME TIME THAT PRICES FOR FUEL OIL, GASOLINE, PROPANE, EVEN FIREWOOD, HAVE JUST SKY-ROCKETED, BUT THE PRICE OF ELECTRICITY HAS BEEN VERY STABLE OVER THE PAST TEN OR TWELVE YEARS. BUT, THAT'S GONNA BE CHANGING."

(:17) RATE CAPS WILL END EVERYWHERE IN THE STATE BY 2010, BUFFINGTON SAYS, AND RATES WILL CLIMB TO WHATEVER THE MARKET CAN BEAR. SO CUSTOMERS SUCH AS FARMERS WHO USE A LOT OF ELECTRICITY SHOULD START PREPARING NOW FOR HIGHER COSTS. FROM PENN STATE, I'M GARY ABDULLAH.

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