With most household items, the more you buy, the more you save per unit - hence, the logic of bulk purchases. Like many other sectors, energy companies are struggling to source materials and labor necessary to meet the demand, therefore, pushing up prices.īut there’s another, often unexpected reason for higher electric bills: higher rates on that extra consumption. All have an effect on your energy bill, whether with increased consumption or increased price.įor instance, with more people resuming leisure travel and businesses back to normal operations, demand for energy has increased. We’re still dealing with supply-chain issues from the ongoing pandemic, geopolitical conflict is affecting energy prices, and extreme weather events - like those that impacted the Texas grid - are becoming more frequent. There are many reasons why electric bills are higher these days.
Why your electric bill is so high: An explanation In this article, I’ll explore why electric bills are spiking and introduce a major energy-saving tip you probably haven’t heard about. Fortunately, there are several solutions that help, especially for homeowners looking to go beyond basic energy-saving tips. In my decade or so of working in the residential energy sector, I can tell you that this is a dramatic spike. Energy Information Administration, the national average residential rate increased by 8% compared to 2021, and in Florida, Hawaii, Illinois, and New York, consumers saw an increase of about 15%.
metropolitan areas have seen higher bills.
Due to continued supply-chain repercussions two years into the pandemic, along with geopolitical turmoil that’s now affecting the energy market, many large, U.S. If you’re wondering why your electric bill is so high, you’re not alone.
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