Electricity’s economic impact: Tips for finding stories

By Flickr user Seattle Municipal

The widespread power blackouts in India earlier this week, which left some 600 million people without electricity, probably has many Americans wondering about the stability of this nation’s power supply.  And with demand here continuing to be exacerbated by high temperatures and air-conditioning use, and plenty of time yet for summer storm’s like late June’s derecho to wreak havoc with power lines, it’s a good moment to take a look at the role of electric power in your area’s economy.

It’s not just a topic for writers who cover the utilities beat; electric power is so pervasive and indispensible that just about any financial writer can find an angle.  Healthcare writers can address back-up plans at medical complexes and for people who rely on life-sustaining equipment, like ventilators, at home.  Residential real estate angles include trends in new home construction (more outlets?  municipal code changes?) and how consumers are using power in the home; retail writers can feature new products like the interesting sockets and switches featured in this DesignSwam blog or how to upgrade a wall outlet to add USB charging ports.  Are electricians getting much call for these upgrades to existing dwellings?

Personal finance writers can look at the status of federal energy efficiency tax credits, or the pros and cons of getting an energy use audit from the local utility, or how to save money eliminating passive electricity use.  Entertainment venues like movie theaters and casinos are dead in their tracks without power; what are their emergency plans and how much revenue is lost, for example, for every minute the slot machines aren’t whirring?  Trying to quantify the impact of power loss to large and small businesses (ice-cream shops with melting product) might be an interesting way to show the importance of electric power as a business input.

The story of electric power generation is a much larger one and you could start with an explainer on sources of power in your state or region, including ownership, financial performance of publicly traded electrical utilities and even a bit of historical perspective.  As this Energy Information Administration backgrounder notes, about 100 years ago there were 4,000 electric power companies nationwide; that hodge-podge of private generators has grown into our current massive system of three major grids.  Be sure to visit the EIA’s beta test of an Electricity Data Browser, an interactive dashboard that lets you drill down for consumption, pricing and other stats down to the plant level in your state; an excellent source of information for any big graphics you produce.

The Federal Energy Regulatory Commission is a source of enforcement and compliance data, as is the National Association of Regulatory Utility Commissioners and your state’s public service commission. The Electric Power Resource Group is a trade association that offers a variety of statistics, including a recent release that it costs $1.36 a year to keep an iPad charged.  Check in with area university’s engineering schools to find out a bout trends and issues in electric power generation.

And don’t overlook the Bureau of Labor Statistics reports on occupational and wage information if you choose to do a look at careers and trades in the electricity sector; from electricians to nuclear plant operators to the coal miners who provide fuel for generators, many jobs are directly and indirectly linked to power.

Finally, the contrarian view can make for a fun sidebar, in light of the blackout angle:  Check in with people who are making an effort to live “off the grid” as well as companies that cater to that group.  From blogs by sustainable-living advocates to online survivalist stores, you’ll find interesting niche philosophies and products.  Be sure to check with big outdoor sports retailers and those who cater to religions that eschew electricity, such as Lehman’s hardware, for a look at products that needn’t be plugged in.