
According to Bloomberg, electricity prices in the United States have been cut by 50 percent, largely due to a high supply of natural gas.
The drop in electricity prices during the winter months is good news for consumers, who may enjoy a range of affordable electric choices, particularly in states where the energy market has been deregulated. Mild weather will likely diminish demand for already-affordable natural gas, Bloomberg reported, which will have electricity providers watching their bottom lines and competing hard for customers, especially in deregulated states.
Citing a report by Standard & Poor's, Bloomberg reported that along with the gas market, wholesale electricity prices have also decreased more than 50 percent on average since 2008.
Despite overall supply being high, the amount of natural gas in storage decreased the week ending January 13. According to the Energy Information Administration, the total stock of natural gas fell 87 billion cubic feet, to 3.29 billion trillion cubic feet.

