Oregonians will be paying more for energy in 2023. Oregon utilities Portland General Electric (PGE) and Pacific Power have announced huge rate increases for 2023, just as winter hits its peak and price inflation continues to hurt regular Oregon families.
Effective Jan. 1, 2023, PGE will raise rates by 7%, and Pacific Power will raise rates by 21.2% For the average Oregon household, this would mean an additional $20 or more per month, nearly $250 or more per year.
These price increases will hit Oregon families hard in the middle of winter as costs for other daily necessities continue to increase at an alarming rate.
PGE and Pacific Power cited multiple factors for the price increases.
“Fuel cost increases and supply chain delays caused by global events, combined with increasing volatility in regional electricity markets, drive the price for utilities to produce and purchase electricity,” said Megan Decker, chairperson of the Oregon Public Utility Commission.
These price increases are nothing new. Last year PGE raised residential energy rates more than 2%, while other utilities across Oregon also raised their prices. Unfortunately, this is a trend that is likely to continue and potentially get worse in the coming years as fuel costs and demand increase, according to the US Energy Information Administration (EIA).
This has caused many Oregon families to wonder how much higher these prices will go, and how they can combat this constant inflation.
The answer for many of these families: Produce your own power.
Estimate your total savings, payments, and total energy usage with our FREE solar calculator.
SOLAR KEEPS YOUR ENERGY PRICES LOW
While there are several steps homeowners and businesses can take to reduce their energy bills, those steps can only go so far. That’s especially true when utilities continue to raise their prices by 20% or more, year after year.
The best way to combat painful and constant energy prices is to find the best alternative to relying on the power company. As both fuel costs and demand for electricity rise, prices will continue to climb quickly. Being able to rely on a source of energy whose price isn’t dictated by external factors and corporate entities is your best bet.
That’s where solar energy comes in. Solar energy allows you to produce your own power on your own property. No more will you have to solely rely on the utility company to provide you with the (expensive) power you rely upon.
Even better, you can use battery backup to store your energy. This energy storage can be used to power your home in a power outage, or it can charge your electric vehicle (EV) so you can reduce your reliance on utility companies even more.
Take action today and see how you can reduce your energy bills and your reliance on constant energy price inflation. Contact Green Ridge Solar today to get your free solar analysis.
And try our Solar Calculator to see how much you could save with solar.