If you’ve been feeling pinched by your electricity bill this summer, you’re not alone. Electricity prices have been climbing across the country—nearly twice as fast as inflation.
In June, the U.S. Energy Information Administration warned that residential electricity bills would see a “slight increase” from June through September. Federal data shows that electricity costs are 5.5% higher today than they were a year ago, with natural gas up by 13.8%. And while nearly three-fourths of Americans are concerned about higher electricity and gas bills, nearly 60 utilities are increasing or trying to raise electric bills by a total $38.3 billion and gas bills by $3.5 billion, affecting 56.7 million electric and 26 million natural gas customers, according to research from the Center for Amer