The Region’s Economy Grows More Efficient

Since 2007, the region’s economy grew 10 percent while regional retail sales of electricity have stayed the same

At its May power committee meeting, the Council reviewed regional employment and economic output trends and their impact on electricity sales. The overarching picture is of a regional economy that, over time, continues to produce more with less energy.

According to data from 2007 to 2014, the regional economy and employment have grown, while retail sales of electricity have stayed the same. Some key points:

  • Gross state product grew 10 percent
  • Employment has returned to pre-recession levels, adding about 100,000 jobs in 2014
  • Retail electricity sales have been stable
  • Retail electricity revenue is growing faster than sales

The growing efficiency of the economy, from investments in energy efficiency and improving efficiency in products, means that consumers can enjoy low electricity bills even as the cost for electricity grows.

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