Caribbean Utilities Company, Ltd.’s Post

Record heat is leading to record demands for electricity to keep cool. JPS has indicated that the demand is taking a huge toll on the electricity grid, but they’re doing their best to keep all customers satisfied. This summer has been the hottest on record, and more and more people are needing to use their ACs and fans almost constantly. Has your light bill increased as you try to beat the heat? ➡️Go to the link in my comments and choose NEWSLETTER to join my mailing list for more info like this. ➡️Choose Join the Money Mission for info about my Money Mission Membership. 🗣️Let’s get this money!💰 #bills #jps #climatechange

Americans Struggling To Pay Skyrocketing Energy Bills. A summer of record-breaking heat has dramatically increased electricity consumption for Americans with many now struggling to keep up with their skyrocketing electric bills. According to the U.S. Energy Information Administration (EIA), the average household spends about $262 a year on air conditioning, with costs going as high as $525 in the hot and humid Southeast.  Close to 90% of U.S. households use air conditioning (AC), with two-thirds of U.S. households using central AC or a central heat pump as their main AC equipment. In 2020, the… http://ow.ly/3rPK104R9xw

Americans Struggling To Pay Skyrocketing Energy Bills. A summer of record-breaking heat has dramatically increased electricity consumption for Americans with many now struggling to keep up with their skyrocketing electric bills. According to the U.S. Energy Information Administration (EIA), the average household spends about $262 a year on air conditioning, with costs going as high as $525 in the hot and humid Southeast.  Close to 90% of U.S. households use air conditioning (AC), with two-thirds of U.S. households using central AC or a central heat pump as their main AC equipment. In 2020, the… http://ow.ly/3rPK104R9xw

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

Heat Trust calls on government to deliver price protections for heat network consumers, both during and beyond this coming Winter. No consumer should face an unaffordable price premium simply for being on a heat network. Read more in our response to DESNZ's Call for Evidence on Domestic Consumers With Non-Domestic Energy Supply Contracts: https://lnkd.in/esid7ipe #heatnetworks #consumerprotection #energycrisis #costoflivingcrisis

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

Americans Struggling To Pay Skyrocketing Energy Bills. A summer of record-breaking heat has dramatically increased electricity consumption for Americans with many now struggling to keep up with their skyrocketing electric bills. According to the U.S. Energy Information Administration (EIA), the average household spends about $262 a year on air conditioning, with costs going as high as $525 in the hot and humid Southeast.  Close to 90% of U.S. households use air conditioning (AC), with two-thirds of U.S. households using central AC or a central heat pump as their main AC equipment. In 2020, the… http://ow.ly/3rPK104R9xw

When the ­sh*t hits the fan, the fan gets blowin’! Today, the UK Government confirmed the details of its Clean Heat Market Mechanism. This is a piece of legislation intended to push more UK consumers towards heat pumps, as part of a larger agenda to tackle the difficult problem of how we heat our homes – accounting for around 17% of all UK carbon emissions.  We’re all up for it – including the manufacturers of the approx. 1.6million gas boilers that are purchased each year in the UK. The tricky issue is one of consumer demand! In a world of choice and the search for value, how can the Government, the industry and marketeers convince consumers to spend more, adapt their home, change their behaviour, and switch from a gas boiler to a heat pump, to achieve something they had already, all in the name of carbon reduction at the point of use? This week, our politicians have been throwing their Greek marbles at each other.  And next week, it will be the 30th anniversary of the death of Frank Zappa. The Greeks, through Plato, gave us “our need will be the real creator”, and Zappa gave us (necessity is) the Mothers of Invention. Both were great communicators who applied creativity, intellect and passion to make people think differently about the status quo. That’s what it’s going to take to get heat pumps on the agenda for UK consumers, and the industry needs strong, confident and compelling narratives to help consumers buy into the heat pump promise. It will take Government and industry working together to put heat pumps firmly on the options list for British homes. It’s difficult to see how the Clean Heat Market Mechanism, which puts significant financial penalties on gas boiler manufacturers if they can’t sell enough heat pumps, will help achieve that goal.  

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.

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