Although inflation has steadily cooled since peaking in June of last year, electricity costs continue to heat up.
The typical power bill is set to rise about 2% this summer from a year ago,to the Energy Information Administration. The reason: While wholesale power costs have dropped, there is generally a lag in when such decreases filter down to the prices residents see on their monthly power bill.
"A lot of utilities buy natural gas in the fall, and they try to spread it out over time so consumers don't get hit with a large bill right away," said Mark Wolfe, executive director of the National Energy Assistance Directors' Association. "Utilities are rebuilding their grids, which is expensive," Wolfe said."About half the cost of electricity that a consumer buys is the wires. So just because the cost of natural gas fuel has come down doesn't mean it's a one-to-one relationship." upgrade announced by the White House
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US inflation to be significantly lower than Eurozone inflation at the end of 2023 – NatixisWhy will inflation fall so much faster in the United States than in the Eurozone? Analysts at Natixis explain the reasons for this asymmetry between t
Read more »
Smoke from Canada wildfire impacting air quality in Delaware Valley, forecasters sayOfficials say there is no immediate threat to the area, but the smoke from the wildfire may cause hazy conditions and a burning smell.
Read more »
Tropical trouble in the Gulf? Forecasters watchingTropical weather watchers will have their eyes on the Gulf of Mexico for the next few days. alwx
Read more »
Dollar elevated as sticky inflation cements Fed hike bets, debt ceiling deal lifts optimismThe dollar was firm on Monday as economic resilience in the United States raised market expectations for further rate hikes by the Federal Reserve, while news that a debt ceiling deal had been finalised sparked some risk-on sentiment.
Read more »
Women at Higher Risk for Inflation-Related StressNew findings indicate which groups are more likely to have inflation-related stress but do not clarify the relationship between this stress and disparities in health outcomes.
Read more »