Transmission line rebuild approved

Electric Vehicle Adoption Barriers include range anxiety, charging infrastructure, and cost parity; consumer demand, tax credits, lithium-ion batteries, and performance benefits are accelerating EV uptake, pushing SUVs and self-driving tech toward mainstream mobility.

Key Points

They are the key hurdles to mainstream EV uptake: range anxiety, sparse charging networks, and high upfront costs.

✅ Range targets of 300+ miles reduce anxiety and match ICE convenience

✅ Expanded home, work, and public charging speeds adoption

✅ Falling battery costs and incentives drive price parity

The automotive industry is hurtling toward a future that will change transportation the same way electricity changed how we light the world. Electric and self-driving vehicles will alter the automotive landscape forever — it's only a question of how soon, and whether the age of electric cars arrives ahead of schedule.

Like any revolution, this one will be created by market demand.
Beyond the environmental benefit, electric vehicle owners enjoy the performance, quiet operation, robust acceleration, style and interior space. And EV owners like not having to buy gasoline. We believe the majority of these customers will stay loyal to electric cars, and U.S. EV sales are soaring into 2024 as this loyalty grows.

But what about non-EV owners? Will they want to buy electric, and is it time to buy an electric car for them yet? About 25 years ago, when we first considered getting into the electric vehicle business with a small car that had about 70 miles of range, the answer was no. But today, the results are far more encouraging.

We recently held consumer clinics in Los Angeles and Chicago and presented people with six SUV choices: three gasoline and three electric. When we asked for their first choice to purchase, 40% of the Chicago respondents chose an electric SUV, and 45% in LA did the same. This is despite a several thousand-dollar premium on the price of the electric models, and despite that EV sales still lag gas cars nationally today, consumer interest was strong (but also before crucial government tax credits that we believe will continue to drive people toward electric vehicles and help fuel market demand).

They had concerns, to be sure. Most people said they want vehicles that can match gasoline-powered vehicles in range, ease of ownership and cost. The sooner we can break down these three critical barriers, the sooner electric cars will become mainstream.

Range
Range is the single biggest barrier to EV acceptance. Just as demand for gas mileage doesn't go down when there are more gas stations, demand for better range won't ease even as charging infrastructure improves. People will still want to drive as long as possible between charges.

Most consumers surveyed during our clinics said they want at least 300 miles of range. And if you look at the market today, which is driven by early adapters, electric cars have hit an inflection point in demand, and the numbers bear that out. The vast majority of electric vehicles sold — almost 90% — are six models with the highest range of 238 miles or more — three Tesla models, the Chevrolet Bolt EV, the Hyundai Kona and the Kia Niro, according to IHS Markit data.

Lithium-ion batteries, which power virtually all electric cars on the road today, are rapidly improving, increasing range with each generation. At GM, we recently announced that our 2020 Chevrolet Bolt EV will have a range of 259 miles, a 21-mile improvement over the previous model. Range will continue to improve across the industry, and range anxiety will dissipate.

Charging infrastructure
Our research also shows that, among those who have considered buying an electric vehicle, but haven't, the lack of charging stations is the number one reason why.

For EVs to gain widespread acceptance, manufacturers, charging companies, industry groups and governments at all levels must work together to make public charging available in as many locations as possible. For example, we are seeing increased partnership activity between manufacturers and charging station companies, as well as construction companies that build large infrastructure projects, as the American EV boom approaches, with the goal of adding thousands of additional public charging stations in the United States.

Private charging stations are just as important. Nearly 80% of electric vehicle owners charge their vehicles at home, and almost 15% at work, with the rest at public stations, our research shows. Therefore, continuing to make charging easy and seamless is vital. To that end, more partnerships with companies that will install the chargers in consumers' homes conveniently and affordably will be a boon for both buyers and sellers.

Cost
Another benefit to EV ownership is a lower cost of operation. Most EV owners report that their average cost of operation is about one-third of what a gasoline-powered car owner pays. But the purchase price is typically significantly higher, and that's where we should see change as each generation of battery technology improves efficiency and reduces cost.

Looking forward, we think electric vehicle propulsion systems will achieve cost parity with internal combustion engines within a decade or sooner, and will only get better after that, driving sticker prices down and widening the appeal to the average consumer. That will be driven by a number of factors, including improvements with each generation of batteries and vehicles, as well as expected increased regulatory costs on gasoline and diesel engines.

Removing these barriers will lead to what I consider the ultimate key to widespread EV adoption — the emergence of the EV as a consumer's primary vehicle — not a single-purpose or secondary vehicle. That will happen when we as an industry are able to offer the utility, cost parity and convenience of today's internal combustion-based cars and trucks.

To get the electric vehicle to first-string status, manufacturers simply must make it as good or better than the cars, trucks and crossovers most people are used to driving today. And we must deliver on our promise of making affordable, appealing EVs in the widest range of sizes and body styles possible. When we do that, electric vehicle adoption and acceptance will be widespread, and it can happen sooner than most people think.

Mark Reuss is president of GM. The opinions expressed in this commentary are his own.

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Iraq Nuclear Power Plan targets eight reactors and 11 GW to ease blackouts, curb emissions, and support desalination, with financing via partners like Rosatom and Kepco amid OPEC-linked demand growth and chronic grid shortages.

Key Points

A $40B push to build eight reactors adding 11 GW, easing blackouts, cutting emissions, and supporting desalination.

✅ $40B, 20-year payback via partner financing

✅ Talks with Rosatom, Kepco; U.S. and France consulted

✅ Parallel solar buildout to meet 2030 demand

Iraq is working on a plan to build nuclear reactors as the electricity-starved petrostate seeks to end the widespread blackouts that have sparked social unrest.

OPEC’s No. 2 oil producer – already suffering from power shortages and insufficient investment in aging plants – needs to meet an expected 50% jump in demand by the end of the decade. Building atomic plants could help to close the supply gap, though the country will face significant financial and geopolitical challenges in bringing its plan to fruition.

Iraq seeks to build eight reactors capable of producing about 11 gigawatts, said Kamal Hussain Latif, chairman of the Iraqi Radioactive Sources Regulatory Authority. It would seek funding from prospective partners for the $40 billion plan and pay back the costs over 20 years, he said, adding that the authority had discussed cooperation with Russian and South Korean officials, as Iran-Iraq energy cooperation progresses across the sector.

Plunging crude prices last year deprived Iraq of funds to maintain and expand its long-neglected electricity system, though grid rehabilitation deals have been finalized to support upgrades. The resulting outages triggered protests that threatened to topple the government.

“We have several forecasts that show that without nuclear power by 2030, we will be in big trouble,” Latif said in an interview at his office in Baghdad. Not only is there the power shortage and surge in demand to deal with, but Iraq is also trying to cut emissions and produce more water via desalination — “issues that raise the alarm for me.”

Raising financing will be a major task given that Iraq has suffered budgetary crises amid volatile oil prices. Even with crude at about $70 a barrel now, the country is only just balancing its budget, according to data from the International Monetary Fund.

The government will also have to tackle geopolitical concerns around the safety of atomic energy, which have stymied nuclear ambitions elsewhere in the region, even as Europe's nuclear decline underscores broader energy challenges.

Nuclear power, which doesn’t produce carbon dioxide, would help Gulf states’ efforts to cut emissions as governments worldwide, including India's nuclear push to expand capacity, look to become greener. The technology would also allow them to earmark more of their valuable hydrocarbons for export. Saudi Arabia, which is building a test reactor, burns as much as 1 million barrels of crude a day in power plants during its summer months when temperatures soar beyond 50 degrees Celsius (122 Fahrenheit).

The Iraqi cabinet is reviewing an agreement with Russia’s Rosatom Corp. to cooperate in building reactors, Latif said. South Korean officials this year said they wanted to help build the plants and offered the Iraqis a tour of UAE nuclear reactors run by Korea Electric Power Corp. Latif said the nuclear authority has also spoken with French and U.S. officials about the plan.

Kepco, Rosatom
Kepco, as the Korean energy producer is known, is not aware of Iraq’s nuclear plans and hasn’t been in touch with Iraqi officials or been asked to work on any projects there, a company spokesman said Tuesday. Rosatom didn’t immediately comment when asked about an agreement with Iraq.

Even if Iraq builds the planned number of power stations, that still won’t be sufficient to cover future consumption. The country already faces a 10-gigawatt gap between capacity and demand and expects to need an additional 14 gigawatts this decade, Latif said.

With this in mind, Iraq plans to build enough solar plants to generate a similar amount of power to the nuclear program by the end of the decade.
Iraq currently boasts 18.4 gigawatts of electricity, including 1.2 gigawatts imported from Iran into the grid. Capacity additions mean generation will rise to as much as 22 gigawatts by August, but that’s well short of notional demand that stands at almost 28 gigawatts under normal conditions. Peak usage during the hot summer months of July and August exceeds 30 gigawatts, according to the Electricity Ministry. Demand will hit 42 gigawatts by 2030, Latif said.

The nuclear authority has picked 20 potential sites for the reactors and Latif suggested that the first contracts could be signed in the next year.

It won’t be Iraq’s first attempt to go nuclear. Four decades ago, an Israeli air strike destroyed a reactor under construction south of Baghdad. The Israelis alleged the facility, called Osirak, was aimed at producing nuclear weapons for use against them. Iraq suffered more than a decade of violence and upheaval after the 2003 U.S. invasion, which was also motivated by allegations that Iraq wanted to develop weapons.

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Texas Power Grid Crisis strains ERCOT as extreme cold, ice storms, and heavy snow trigger rolling blackouts, load shedding, and boil-water notices, leaving millions without electricity while frozen turbines and low gas pressure hinder generation.

Key Points

A statewide emergency of outages and boil-water notices as ERCOT battles extreme cold and load shedding.

✅ Millions without power; ERCOT orders load shedding

✅ Boil-water notices in Austin, Houston, Fort Worth

✅ Frozen equipment, low gas pressure, extreme cold disrupt supply

Nearly 3 million homes and businesses in Texas remain without power, some for a third consecutive day, as severe winter weather continues to pummel the state, forcing some localities to issue boil-water notices and urge residents to reduce their electricity usage.

Heavy snowfall, ice storms and bitter temperatures continue to put an enormous strain on the state's power grid. This as the Electric Reliability Council of Texas (ERCOT), which manages roughly 75% of the Texas power grid, announced Wednesday morning that some 600,000 households had power restored overnight.

That still left another 2.7 million customers having to endure extreme cold with no indication of when the thaw would break in their homes.

"We know millions of people are suffering," ERCOT's president and CEO, Bill Magness, said in a statement Wednesday. "We have no other priority than getting them electricity. No other priority."

ERCOT also said Wednesday that it was urging local utilities to shed some 14,000 megawatts of load, which translates to roughly 2.8 million customers, to prepare for a sudden increase in demand.

"The ability to restore more power is contingent on more generation coming back online," said Dan Woodfin, the senior director of ERCOT's system operations, and utility supply-chain constraints can further complicate repair timelines for some utilities.

He said that about 185 generating units were offline, stemming from a range of factors including frozen wind turbines, low gas pressure and frozen instrumentation.

But many Texans feel abandoned by the council and power companies and they are lashing out at the local face of utilities.

The City of Austin's community-owned electric utility, Austin Energy, issued a tweet saying crews that are working to restore power are facing harassment.

"Our crews have been working 24/7 and in these elements," Austin Energy announced. "Some of our crews are reporting incidents of harassment, threatening them and even throwing things at them."

Officials pleaded with the public to remain calm. "I know people are extremely frustrated. But please, I bet of you, do not approach AE crews."

Parts of Austin are under a boil water notice, which Austin Water Director Greg Meszaros attempted to explain during a press briefing Wednesday afternoon.

"There was a large main break in that area, maybe multiple ones. We're seeing main breaks and pipes bursting by the tens of thousands. Our entire system is under stress," Meszaros said.

It's not just the Lone Star State that is being crippled by the arctic blast, with a deep freeze slamming the energy sector across the country.

At least two dozen people have died this week from weather-related incidents, according to The Associated Press.

The National Weather Service reports that more than 100 million Americans are being affected by extreme winter weather from the south central U.S. to the East Coast, including Arkansas, Louisiana, Mississippi, North Carolina, Virginia and West Virginia, and analysts warn of blackout risks nationwide during extreme heat as well.

The National Weather Service adds that cold temperatures over the nation's heartland will begin to "moderate in the coming days" but that many parts will remain 20 to 35 degrees below normal in the Great Plains, Mississippi Valley and lower Great Lakes region.

"Potential is increasing for significant icing across portions of the Mid-Atlantic, which will be very impactful, especially for those hardest hit from the previous ice storm," the National Weather Service tweeted Wednesday.

Texas Gov. Greg Abbott railed against ERCOT, and Elon Musk criticized the agency as unreliable, saying the utility "has been anything but reliable over the past 48 hours."

"This is unacceptable," Abbott added, as residents were facing rotating intentional power outages. The governor issued an executive order that will add reforms for how the power grid is managed, including grid reliability improvements under discussion, as an emergency legislative item for the state legislature to review.

The rolling power outages forced Fort Worth to extend a boil-water notice for roughly 212,000 residents. Officials said the outages affected the city's systems that both treat water and move it to customers.

Fort Worth officials said nine other localities that purchase water from the city are also affected, including Haslet, Keller, Lake Worth and Northlake.

Officials in Houston also issued a boil-water notice for the city's residents Wednesday.

"Do not drink the water without boiling it first," Houston Public Works said from its official Twitter account. "Bring all water to a boil for at least two minutes. Let it cool before using."

In Harris County, which includes Houston, Judge Lina Hidalgo warned residents about extended power outages.

"Let me give it to you straight, based on the visibility I have: Whether you have power or not right now, there is a possibility of power outages even beyond the length of this weather," Hidalgo said, according to Houston Public Media.

The NPR member station adds that county officials have also reported more than 300 cases of carbon monoxide poisoning since Monday as residents going without electricity search desperately for alternative sources of warmth.

"In no uncertain terms, this is a public health disaster and a public health emergency," Samuel Prater, an emergency physician at Memorial Hermann-Texas Medical Center, said at a news briefing Tuesday.

Prater warned residents that over the last 24 hours, emergency officials "have seen a striking increase in the number of cases related to improper heating sources," including indoor use of generators, charcoal grills, campfire stoves and other devices that are being used to warm homes. The result, he added, is carbon monoxide poisoning of entire families.

"If you think you or a loved one has become ill from carbon monoxide poisoning, first thing you need to do is get outside to fresh air," Prater said.

A woman and an 8-year-old girl are among those who have reportedly died from carbon monoxide poisoning after a vehicle was left running inside a garage in an attempt to generate heat, according to Houston's ABC affiliate.

As Texas endures further weather-related issues, including road and highway closures, there's a renewed focus on how the Texas power grid has failed, and why the grid is facing another crisis amid this prolonged cold.

The Texas electrical grid is "facing conditions that it was not designed for," said Emily Grubert, a professor at Georgia Tech whose expertise includes electric networks.

"These are really extreme conditions for the Texas grid. It's very cold. It's cold across the entire state, and it's cold for a long time. This does not happen very often," she said in an interview with NPR's Morning Edition.

"Demand really spiked both in the electricity and the natural gas systems at the same time as a lot of the generators were not able to operate because of those cold conditions, and not being prepared for it is really what's going on," Grubert said. "But a lot of grids are susceptible to really, really major failures when they are this far outside of design conditions."

Abbott told Fox News on Tuesday that with weather-related shutdowns in wind and solar energy, which account for more than 10% of the state's grid, renewable energy is partly to blame for the Texas power crisis, even as he later touted the grid's readiness heading into the fall.

"It just shows that fossil fuel is necessary for the state of Texas as well as other states to make sure that we'll be able to heat our homes in the wintertime and cool our homes in the summertime," Abbott said.

But Grubert said that "coal, gas and nuclear actually shut down because of the extreme cold due to things like instruments freezing, et cetera. So I think the overall point here is all of the fuels were really, really struggling."

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Quebec EV transition plan aims for 2 million electric vehicles by 2030 and bans new gas cars by 2035, stressing charging infrastructure, incentives, emissions cuts, and industry impacts, with debate over feasibility and economic risks.

Key Points

A provincial policy targeting 2M EVs by 2030 and a 2035 gas-car sales ban, backed by charging buildout and incentives.

✅ Requires major charging infrastructure and grid upgrades

✅ Balances incentives with economic impacts and industry readiness

✅ Gas stations persist while EV adoption accelerates cautiously

Quebec's ambitious push to dominate the electric vehicle (EV) market, echoing Canada's EV goals in its plan, by setting a target of two million EVs on the road by 2030 and planning to ban the sale of new gas-powered vehicles by 2035 has sparked significant debate among industry experts. While the government's objectives aim to reduce greenhouse gas emissions and promote sustainable transportation, some experts question the feasibility and potential economic impacts of such rapid transitions.

Current Landscape of Gas Stations in Quebec

Contrary to Environment Minister Benoit Charette's assertion that gas stations may become scarce within the next decade, industry experts suggest that the number of gas stations in Quebec is unlikely to decline drastically. Carol Montreuil, Vice President of the Canadian Fuels Association, describes the minister's statement as "wishful thinking," emphasizing that the number of gas stations has remained relatively stable over the past decade. Statistics indicate that in 2023, Quebec residents purchased more gasoline than ever before, and EV shortages and wait times further underscore the continued demand for traditional fuel sources.

Challenges in Accelerating EV Adoption

The government's goal of having two million EVs on Quebec roads by 2030 presents several challenges. Currently, there are approximately 200,000 fully electric cars in the province. Achieving a tenfold increase in less than a decade requires substantial investments in charging infrastructure, consumer incentives, and public education to address concerns such as range anxiety and charging accessibility, especially amid electricity shortage warnings across Quebec and other provinces.

Economic Considerations and Industry Concerns

Industry stakeholders express concerns about the economic implications of rapidly phasing out gas-powered vehicles. Montreuil warns that the industry is already struggling and that attempting to transition too quickly could lead to economic challenges, a view echoed by critics who label the 2035 EV mandate delusional. He suggests that the government may be spending excessive public funds on subsidies for technologies that are still expensive and not yet widely adopted.

Public Sentiment and Adoption Rates

Public sentiment towards EVs is mixed, and experiences in Manitoba suggest the road to targets is not smooth. While some consumers, like Montreal resident Alex Rajabi, have made the switch to electric vehicles and are satisfied with their decision, others remain hesitant due to concerns about vehicle cost, charging infrastructure, and the availability of incentives. Rajabi, who transitioned to an EV nine months ago, notes that while he did not take advantage of the incentive program, he is happy with his decision and suggests that adding charging ports at gas stations could facilitate the transition.

The Need for a Balanced Approach

Experts advocate for a balanced approach that considers the pace of technological advancements, consumer readiness, and economic impacts. While the transition to electric vehicles is essential for environmental sustainability, it is crucial to ensure that the infrastructure, market conditions, and public acceptance are adequately addressed, and to recognize that a share of Canada's electricity still comes from fossil fuels, to make the shift both feasible and beneficial for all stakeholders.

In summary, Quebec's ambitious EV targets reflect a strong commitment to environmental sustainability. However, industry experts caution that achieving these goals requires careful planning, substantial investment, and a realistic assessment of the challenges involved as federal EV sales regulations take shape, in transitioning from traditional vehicles to electric mobility.

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EU Solar Impact on Electricity Prices highlights how rising solar PV penetration drives negative pricing, shifts peak hours, pressures wholesale markets, and challenges grid balancing, interconnection, and flexibility amid changing demand and renewables growth.

Key Points

Explains how rising solar PV cuts wholesale prices, shifts negative-price hours, and strains grid flexibility.

✅ Negative pricing events surge with higher solar penetration.

✅ Afternoon price dips replace night-time wind-led lows.

✅ Grid balancing, interconnectors, and flexibility become critical.

The latest EU electricity market report has confirmed the affect deeper penetration of solar is having on wholesale electricity prices more broadly.

The Quarterly Report on European Electricity Markets for the final three months of last year noted the number of periods of negative electricity pricing doubled from 2019, to almost 1,600 such events, as global renewables set new records in deployment across markets.

Having experienced just three negative price events in 2019, the Netherlands recorded almost 100 last year “amid a dramatic increase in solar PV capacity,” in the nation, according to the report.

Whilst stressing the exceptional nature of the Covid-19 pandemic on power consumption patterns, the quarterly update also noted a shift in the hours during which negative electric pricing occurred in renewables poster child Germany. Previously such events were most common at night, during periods of high wind speed and low demand, but 2020 saw a switch to afternoon negative pricing. “Thus,” stated the report, “solar PV became the main driver behind prices falling into negative territory in the German market in 2020, as Germany's solar boost accelerated, and also put afternoon prices under pressure generally.”

The report also highlighted two instances of scarce electricity–in mid September and on December 9–as evidence of the problems associated with accommodating a rising proportion of intermittent clean energy capacity into the grid, and called for more joined-up cross-border power networks, amid pushback from Russian oil and gas across the continent.

Rising solar generation–along with higher gas output, year on year–also helped the Netherlands generate a net surplus of electricity last year, after being a net importer “for many years.” The EU report also noted a beneficial effect of rising solar generation capacity on Hungary‘s national electricity account, and cited a solar “boom” in that country and Poland, mirroring rapid solar PV growth in China in recent years.

With Covid-19 falls in demand helping renewables generate more of Europe's electricity (39%) than fossil fuels (36%) for the first time, as renewables surpassed fossil fuels across Europe, the market report observed the 5% of the bloc's power produced from solar closed in on the 6% accounted for by hard coal. In the final three months of the year, European solar output rose 12%, year on year, to 18 TWh and “the increase was almost single-handedly driven by Spain,” the study added.

With coal and lignite-fired power plunging 22% last year across the bloc, it is estimated the European power sector reduced its carbon footprint 14% as part of Europe's green surge although the quarterly report warned cold weather, lower wind speeds and rising gas prices in the opening months of this year are likely to see carbon emissions rebound.

There was good news on the transport front, though, with the report stating the scale of the European “electrically-charged vehicle” fleet doubled in 2020, to 2 million, with almost half a million of the new registrations arriving in the final months of the year. That meant cars with plug sockets accounted for a remarkable 17% of new purchases in Q4, twice the proportion seen in China and a slice of the pie six times bigger than such products claimed in the U.S.

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Calgary Electricity Price Increase signals higher ENMAX bills as grid demand surges; wholesale market volatility, fixed vs floating rates, kWh costs, and transmission charges drive above-average pricing across Alberta this winter.

Key Points

A market-led rise in Calgary power rates as grid demand and wholesale volatility affect fixed and floating plans.

✅ ENMAX warns of higher winter prices amid record grid demand

✅ Fixed rates hedge wholesale volatility; floating tracks spot market

✅ Transmission and distribution fees rise 5-10 percent annually

Calgarians should expect to be charged more for their electricity bills amid significant demand on the grid and a transition to above-average rates across Alberta.

ENMAX, one of the most-used electricity providers in the city, has sent an email to customers notifying them of higher prices for the rest of the winter months.

“Although fluctuations in electricity market prices are normal, we have seen a general trend of increasing rates over time,” the email to customers read.

“The price volatility we are forecasting is due to market factors beyond a single energy provider, including but not limited to expectations for a colder-than-normal winter and changes in electricity supply and demand in Alberta’s wholesale market. ”

Earlier this month, the province set a record for electricity usage during a bitterly cold stretch of weather.

According to energy comparison website energyrates.ca, Alberta’s energy prices have increased by 34 per cent between November 2020 and 2021.

“One of the reasons that this increase seems so significant is we’re actually coming off of a low period in the market,” the site’s founder Joel MacDonald told Global News. “You’re seeing rates well below average transitioning to well above average.”

According to ENMAX’s rate in January, the price of electricity currently sits at 15.9 cents per kilowatt-hour, with an electricity price spike from 7.9 cents per kilowatt-hour last year.

MacDonald said prices for electricity have been relatively low since 2018 but a swing in the price of oil has created more activity in the province’s industrial sector, and in turn more demand on the power grid.

According to MacDonald, the price increase can also be attributed to the removal of a consumer price cap that limited regulated rates to 6.8 cents per kilowatt-hour for households and small businesses with lower demand, which, after the carbon tax was repealed, initially remained in place.

Although the cap was scrapped by the UCP three years ago, he said energy bills now depend on the rate set by the market.

“What’s increased now recently is actually the price per kilowatt, and the (transmission and distribution) charges have only increased, but annually they increase between five and 10 per cent,” MacDonald said. “So the portion of your bill that’s increasing is different than what Albertans are typically used to, or at least in recent memory.”

But Albertans do have options, MacDonald said.

As part of its email to customers, ENMAX sent a list of energy saving tips to reduce energy consumption in people’s homes, including using cold water for laundry and avoiding dryer use, energy-efficient lightbulbs and unplugging electronics when they are not in use.

Retailers also offer contracts with floating or fixed rates for consumers.

“Fixed rates, obviously, you’re going to pick your price. It’s going to be the same each and every single month,” MacDonald said. “Floating rate is based off the wholesale spot market, and that has been exceptionally high the last few months.”

He said consumers looking to save money when electricity prices are high should look into a fixed rate.

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