What causes changes in the energy market?

Toward the end of 2021, global energy costs began to increase dramatically due to inflation, supply chain issues created by the pandemic, and most recently, the war in Ukraine. Coal prices are up nearly 300% since this time last year, and natural gas prices have increased more than 100% year-over-year. This has resulted in wholesale power prices increasing more than 175%. Electric cooperatives are not immune to inflation, which has recently led to an increase in the cost of the electricity, materials and equipment we rely on every day to operate and maintain our system.