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The cost and transporting electricity is typically between $20 and $40 per megawatt hour. To put that into perspective, you might pay 13 cents per kilowatt hour or $130 per megawatt hour retail. These costs mean utilities make a small and consistent profit.
However utilities buy electricity on the spot market. Sometimes demand and other factors cause their purchase prices to increase.
I rarely see costs this high. For example, instead of paying maybe $30 on the spot market, the cost of electricity in Wellsboro PA is currently $283.90 per megawatt hour. Other prices are $310 in Vineland NJ, $376 in Chalk Point MD, and $309 on an undersea connection from New Jersey to Long Island. $478 in Quakertown PA.
Average Chicago price is about $144. Ohio about $195. $326 in the Richmond VA area. $310 in the Lexington KY area. Ironically, where electricity is produced and transmission facilities are restricted, prices are significantly lower such as $30 in Mount Storm MD near the West Virginia border.
Do so many consumers in this day and age still use electricity for heat?
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