Retail Electric Revenues increased by 31% in the September 2022 Quarter. Of that 31% increase, a huge 25.2% was due to Fuel and Other Cost Recovery, primarily Higher Fuel and Higher Purchased Power Costs. Another 3.6% of the 31% was due to Rates and Pricing.
Wholesale Electric Revenues increased by 64% in the September 2022 Quarter. Of that 64%, 60% was a result of Fuel and Purchased Power increases.
Natural Gas Revenues increased by 37.6% in the September 2022 Quarter. Of the 37.6%, 27.6% was a result of Fuel and Purchased Power increases.
Looking at September 2022 Quarter Total Expenses, Total Fuel expenses were an credible 96% higher and Total Purchased Power Expenses were an even more incredible 124% higher than that in the September 2021 Quarter.
Suffice it to say that Utility Customers cannot be happy with the incredibly high addons to their Utility bills for the higher fuel, for the higher purchased power and for the higher other cost recovery that are being passed on to them.
And there is something seriously wrong with US capitalism when a large Utility Company reports 34% earnings growth but gets there only by passing on a high percentage of its higher costs to its Utility customers.
