Electricity rates will rise 10% on average under a proposal approved today (9-11-12) by the Seattle City Council Energy and Environment Committee. Residential customers, in general, would see greater rate increases than businesses.
As energy costs rise, installation of higher efficiency furnaces and heating systems become more attractive to consumers. Higher energy costs translate to shorter payback periods for installation of high efficiency systems. High efficiency furnaces have steadily replacing traditional 80% efficient furnaces and the trend is expected to accelerate.