Why US Power Bills Are Surging

Americans are paying more for electricity—and rates will keep rising. But after a period of pain, rates should level off as the benefits of a shift away from fossil fuels begin to be felt.

This story originally appeared on Vox and is part of the Climate Desk collaboration.

Like most Americans this month, your most recent power bill may have given you a shock. Residential electricity rates have risen fast across the US—more than 30 percent on average since 2020 and almost double the rate of inflation in the past year—with no end in sight.

It’s not great for anyone’s budget, whether you’re a renter or an industrialist. High electricity prices ripple beyond consumers and throughout the whole economy, disrupting manufacturing, construction, transportation, and more.

And, of course, electricity prices are a huge political issue. President Donald Trump campaigned on cutting energy prices in ...