Prior to the Biden-Harris administration, electricity prices had been flat for a decade at around 13 cents per kilowatt-hour. They’re now at 18 cents per kWh—an increase of nearly 30% since 2020.
U.S. consumers are paying more for everything, especially electricity, as price increases ripple through the economy. Although food and housing inflation receive a lot of attention, a hidden cost of both home ownership and renting is rising electricity costs.
This is despite the fact that natural gas powers half of the U.S. grid and prices for it hit record lows this year.
President-elect Donald Trump’s election victory means a change in energy policy with positive effects on electricity prices and power generation. This shift could pivot the U.S. toward more reliable sources for power generation such as natural gas and coal, reducing our reliance on expensive,…
