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
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