Ameren announces lower electric rates
According to officials of the utility, the typical Ameren residential customer using 10,000 kilowatt-hours of electricity a year will save about $100, or 8 percent, on the price of electricity.
Ameren officials attributed the reduction to a decline in the wholesale cost of electricity due to reduced demand.
However, officials of the Citizens Utility Board say the drop in electric rates announced by Ameren and previously by ComEd was also due to a new power-purchasing system.
Through the Illinois Power Agency, power generators submit sealed bids to sell power in the state. Through the agency, a price for power is negotiated.
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Global oil demand to decline in 2020 as Coronavirus weighs heavily on markets
LONDON - Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s latest oil market forecast.
The situation remains fluid, creating an extraordinary degree of uncertainty over what the full global impact of the virus will be. In the IEA’s central base case, demand this year drops for the first time since 2009 because of the deep contraction in oil consumption in China, and major disruptions to global travel and trade.
“The coronavirus crisis is affecting a wide range…
