Average U.S. Electricity Prices Rise 3.9 Percent

PARK RIDGE, NJ, May 19 (MARKET WIRE) --
Following an increase of nearly 5 percent in 2007, the average price of
electricity for industrial or large commercial entities in the United States
rose
another 3.9 percent over the past year.

The annual survey by an independent consulting company, NUS Consulting Group
of Park
Ridge, NJ, found the average price of electricity in the United States was
9.44 cents per kilowatt-hour (kWh) as of April 1, 2008 compared with 9.08
cents per kWh in April 2007. The survey samples 24 investor-owned electric
companies in the country using a sample model of monthly usage totaling
450,000 kWh with a monthly demand of 1,000 kW. The survey model also assumes
an operating power factor of 85 percent and customer-owned transformation
equipment.

The study found customers in California, Illinois, New York and Texas pay
some of the highest electricity prices in the country. The top five surveyed
utilities in terms of price included Consolidated Edison (NY) at 18.07
cents/kWh, National Grid (NY) at 15.22 cents/kWh, Commonwealth Edison (IL) at
13.08 cents/kWh, Southern California Edison (CA) at 12.47 cents/kWh, and
Reliant Energy (TX) at 12.34 cents/kWh.

The largest price escalation over the past year occurred in Maryland as
Baltimore Gas & Electric Company's industrial customers saw their electricity
costs increase by 18.5 percent. Other utilities with notable increases included
Commonwealth Edison (IL) at 18.4 percent, Reliant Energy (TX) at 17.0 percent,
Alabama Power (AL) at 15.5 percent and Progress Energy (FL) at 13.1 percent.

The survey found the lowest priced utilities included Duke Energy (NC) at
5.21 cents/kWh, Ameren UE (MO) at 5.26 cents/kWh, Dominion Power (VA) at
5.54 cents/kWh, Ohio Power at 5.84 cents/kWh, and Excel Energy (MN) at
6.94cents/kWh. The largest price decreases over the past year were found with
Excel Energy (MN) at 7.6 percent and Pennsylvania Power & Light at 5.5
percent.

As borne out in previous surveys, the highest power prices are usually found
in
those states that have deregulated their retail electricity markets. Once
considered
a means of lowering electricity costs, deregulation has yet to fulfill this
central promise.

"While not as dramatic in its price rise as in the oil or gasoline
sectors,the survey seems to confirm that higher electricity costs are here to
stay,"
said Richard Soultanian, co-president of the NUS Consulting Group. "We fully
expect this trend to continue as energy prices, both here in the US and
abroad, continue their meteoric rise."

He concluded by saying, "Today's energy markets are more volatile than ever.

The days of cheap power are now a distant memory and all businesses must learn
to
not only adjust, but survive, in this type of purchasing environment."

The survey was undertaken by the world's leading utility cost management
consultants, NUS Consulting Group located in Park Ridge, New Jersey, providing
energy and telecommunications cost audit, analysis and consulting services to
industrial and commercial organizations. Additional information concerning the
NUS
Consulting Group can be obtained from their website at www.nusconsulting.com.

Contact:
David Brown
(201) 391-4300 ext. 105
dbrown@nusconsulting.com

Jeanne Achille
The Devon Group
(732) 224-1000, ext. 11
jeanne@devonpr.com

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