"Electricity prices have jumped 40% since February 2020, according to the Bureau of Labor Statistics. That's a bigger jump than the 26% increase in the overall cost of living. Why have prices gone up? Demand for electricity has increased in recent years, partly because of all of the new data centers that are popping up to serve the artificial intelligence boom. Some old power plants have been retired, and utilities are scrambling to add new electric generation, while also making the power grid more resilient."
"Now that fall is here, Kathy Letourneau no longer has to run her air conditioner around the clock. But the Fort Walton Beach, Fla., resident also relies on electric heat to stay warm in the winter. Letourneau, who is 71, says her power bills run between $200 and $300 a month, all year round. "When you're living on a fixed income, you feel it," she says. "There have been a few times we couldn't afford it. We've had our lights turned off before.""
"Residential electric rates in Florida have jumped more than 13% over the last year, according to the Energy Department. Letourneau and her husband are bracing for another increase next year. "Florida is a lot of retired people on Social Security," Letourneau says. "I mean, it's hard." Across the country, residential electric rates are climbing twice as fast as the overall rate of inflation."
Electricity prices increased about 40% since February 2020, exceeding the roughly 26% rise in overall cost of living. Rising demand from new data centers for artificial intelligence, retirements of older power plants, utility efforts to add generation and harden the grid, and higher natural gas costs have pushed prices up. Residential electric rates in Florida rose over 13% last year and nationwide residential rates are climbing about twice as fast as inflation. Many households on fixed incomes face monthly bills of $200–$300 and have experienced service disconnections. High power costs affected recent state elections.
Read at www.npr.org
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