In the last 10 years, we've seen a significant reduction on our supply options. Natural gas prices have gone down by at least half, which means that natural gas electricity prices are around 5¢ to 6¢ per kilowatt hour. Wind has also come down in price. When backed up with natural gas or even with an air compressor, wind is around 5¢ as well.
The cost of the commodity piece, where we thought that the cost of the next option was more expensive—and this is where I disagree with the other witness—is not anymore. That's a big disconnect from where we've been over the last 20 years, where we would say that energy efficiency is the cheapest and the default option. It's not, or not necessarily. If we think about it as a default option, that means we're not thinking. We need to do those tests, that analysis, because the price of the electricity commodity is coming down; the price of natural gas has come down a huge amount; the price of electricity transmission has come down because we're moving away from AC power to DC lines, and they're much more efficient in that movement.
My point is, just do the work. Do the analysis. Find out if it is more effective. Don't just assume that because it's energy-efficient, it's the best thing to use first. That's not necessarily the case.
I showed you the results from that UC Berkeley case, where they had this whole home energy efficiency plan. It comes in as -2.2%. From an economic point of view, that's not a good thing.