email: [email protected] | Phone: +1-787-740-0398

Energy costs keep rising

Intelligent Economics > Analysis > Energy costs keep rising

In July 2022, Puerto Rico’s total energy consumption reached 1,514.5KWh. This shows a 1.68% increment when compared to July 2021’s total consumption. When compared to June 2022’s consumption, there is only a 1.28% increment in July 2022’s total consumption. Overall, Puerto Rico’s total energy consumption has seen significant changes. This despite its changes in prices, given that the continued growth in energy costs in the Island has been something to talk about these past few months.

The average cost by ¢kilowatt hour for all classes rose by 11.3 cents or 50.72%, a substantial increment to say the least, when compared to costs back in July 2021. As for average residential clients’ costs behavior, this saw an increment of 13.36 cents per kWh or 60.51% and the average price for commercial clients also incremented by 10.31 cents per kWh or 44.92% when compared to July 2021’s costs. When compared to June 2022’s costs, prices rose by 6.02 cents or 21% for all classes, cost for residential clients increased by 7.78 cents per kWh or 28%, and cost for commercial clients incresed by 4.31cents per kWh or 14.89%.

This substantial year-over-year increase is greatly due to oil market behavior which have been dictated by the Ukrainian and Russian war. 

Related Posts

Leave a Reply