I work in the utility industry. The fuel costs are very low. In fact for gas, i beleive it is illegal for the utility to mark up the cost of fuel. The only money made is on transportation costs. Money is also made if the utility operates a atorage field or lng plant.
For electric, the fuel costs (coal typically) is very very cheap. Utility bills currently are setup so that the typical use will pay the fixed costs and the variable cost (fuel) by using a per unit fee. The problem is low users pay less than what it costs to maintain the infrastructure and high users pay more.
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