#electricity-prices

#electricity-prices

Soaring electric and utility bills nationwide are the new political bellwether for consumers heading into a pivotal 2026 midterm election cycle for the first time in recent history, replacing the typical hot-button items of fuel prices and grocery costs-most notably for eggs last year. While costly grid and severe weather upgrades have accounted for much of the price hikes of late, utility bills are projected to continue spiking for years to come because of the AI-driven data center boom and surging natural gas exports driving demand for new power generation and more fossil fuels.

The future of Britain's green home revolution could hinge on one thing - the price of electricity. A new report from Mitsubishi Electric warns that unless power costs are reduced, millions of homeowners will be unable or unwilling to make the switch from gas boilers to low-carbon air source heat pumps. Despite growing public concern about climate change and strong interest in greener heating, electricity remains far more expensive than gas, creating a financial barrier that could derail the country's net-zero ambitions.

More than a million households face electricity price hikes this month as Energia, Bord Gáis and SSE Airtricity raise prices

Limited transmission capacity increases prices by creating "congestion," with overloaded power lines unable to carry more electricity because of overheating risks. That leads to using higher-cost, less-efficient electricity to meet demand. "It's like a two-way highway that was built decades ago that's now expected to carry rush-hour traffic to and from a major city every time - every day of the year [there are] more cars, bigger trucks, constant congestion,"

The nonprofit Electric Power Research Institute studied U.S. households' "energy wallet" - what they pay for gasoline, power, natural gas, heating oil and propane, and more. The big picture: Last year, total "wallet" spending averaged $5,530 per household, with $1,860 for electric bills and $2,930 for gasoline. That's pretty similar to 2020 levels in inflation-adjusted dollars. But there was lots of variation in between, largely from gasoline price changes, while power has been steadier.

Homeowners in NYC can save around $15,000 on solar installations before the federal tax credit expires in 2025, which requires systems to be operational by then.