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Electricity Rates Are Set To Rise This Summer, This Is How Owners and Tenants Can Manage The Increase

January 23, 2025January 23, 2025 Alexa Broylescolumbus, commercial real estate, CRE, Electricity, industrial, investment, office, rate increase, retail, Warehouse

Building owners and tenants take heed, a significant electricity rate increase is on the horizon, but there is something you can do to prepare and curtail costs. Last July, PJM Interconnection, which manages the electric grid for the District of Columbia and 13 states including Ohio, announced a significant rise in capacity costs which increased from $2.2 billion to $14.7 billion for the 2025-26 delivery year, with further increases expected for the 2026-27 delivery year. PJM cited the demand for artificial intelligence along with the growing presence of data centers,…

Businesses Should Prepare Now for June Electric Rate Hikes

February 23, 2023July 9, 2024 Alexa Broylescolumbus, commercial real estate, electric, industrial, investment, land, office, rate increase, retail, transactions, utility, Warehouse

Pressures on the energy market have been mounting and soon consumers will be faced with the fallout. The combination of the pandemic causing workplaces to go dark thus lessoning demand and production, followed by labor and supply shortages, a diminished natural gas supply caused by the invasion of Ukraine, and now inflation, have pushed energy markets to the brink. Couple that with the rising value of exported liquified natural gas overseas, which is driving producers to move more of their supply to Europe where the commodity commands pricing nearly five…