Overview
- Gas and electric utilities sought or secured more than $34 billion in rate increases in the first three quarters of 2025, with about 80 million Americans struggling to pay utility bills.
- Democrats won the governorships in New Jersey and Virginia and flipped two seats on Georgia’s Public Service Commission after repeated rate hikes, with Georgia Power’s typical monthly bill now around $175.
- The EIA projects residential electricity prices will climb to roughly 17.7 cents per kWh by 2026 after rising about 36% since 2021.
- Rapid expansion of power-hungry data centers is lifting demand and costs, with EPRI estimating they could use up to 9% of U.S. generation by decade’s end and PJM customers facing billions in higher wholesale costs next June.
- Rising natural gas prices and growing LNG exports are adding to generation costs, while proposals like Georgia Power’s $15 billion buildout to serve data centers have prompted debate over who bears the expense.