> they buy power at about $0.02/kWh but then they sell it to the residential consumer for up to $0.32.
This is the most important factor in the whole discussion.
The electricity retailers, which consist of a call centre and a two billing systems, accounts payable and accounts receivable, buy electricity for virtually nothing, $1.00 buys them 50kWh, that's about double what my houses uses per day with two adults. edit to add: per day
I'm guessing the electricity retailers aren't making a lot of money after expenses, otherwise investors would flood the market.
How would a reduction in wholesale electricity price translate to a reduction in residential retail price given the wholesale price is already almost at zero.
This is the most important factor in the whole discussion.
The electricity retailers, which consist of a call centre and a two billing systems, accounts payable and accounts receivable, buy electricity for virtually nothing, $1.00 buys them 50kWh, that's about double what my houses uses per day with two adults. edit to add: per day
I'm guessing the electricity retailers aren't making a lot of money after expenses, otherwise investors would flood the market.
How would a reduction in wholesale electricity price translate to a reduction in residential retail price given the wholesale price is already almost at zero.