The time is past, when America consumed more electricity each and every year. And that is true even when our economy grows, 2.2 million jobs are added, and our population increases by 2 million to 3 million people, as has been the case in the last 12 months.
Though our economy and population are bigger in 2013 than in 2012, our electricity generation/consumption is lower to date. In fact, electricity generation is down 0.7%.
America's households and businesses--our economy--continues to raise the efficiency with which we use power. Rising efficiency and then variation in temperatures can now readily lead to falls in electricity generation and consumption from one year to another. That is a new fact of life in the power business.