Why US Power Bills Are Surging

The article explains the recent surge in U.S. electricity bills, which have risen by more than 30 percent on average since 2020, causing widespread financial strain for consumers and economic disruption across multiple sectors. Several factors contribute to this increase, including rising electricity demand, volatile fuel prices, inflation, tariffs, delays in building new transmission lines, and slow additions of new power generators. These combined pressures suggest that high electricity prices may persist for the foreseeable future. The impact is particularly severe on lower- and moderate-income households, many of whom are already struggling to pay bills and face increasing risks of power shutoffs. Despite the current spike in electricity costs, the article provides broader context by highlighting that overall household energy spending—covering electricity, natural gas, and gasoline—has remained relatively stable since 2000 when adjusted for inflation. This stability is partly due to a growing trend of electrification in homes, such as switching from gas furnaces to heat pumps and from gasoline vehicles to electric motors,