Utility bills have risen roughly 40% in five years, with another $23.1bn in rate hikes requested this year, making electricity costs a pivotal issue in the midterm elections alongside fuel prices.
01Summary
- 01U.S. electricity prices have risen by roughly 40% on average over the last five years.
- 02Utilities have requested $23.1bn in rate increases through the first three quarters of 2026, on track to approach the record $31bn set in 2025.
- 03Investor-owned utility companies have raised capital expenditure plans by more than 27% to at least $1.4 trillion through 2030.
- 04Heating oil in September was up 74% from a year ago, while the average price of regular unleaded gasoline was $4.33 a gallon, up 42% year-on-year.
- 05Nearly half of the $4.5bn in rate hike requests in the third quarter came from southern U.S. states.
02Why it matters
With heating season beginning and many rate hikes still pending, households already struggling with higher fuel costs face further financial pressure, making utility bills a decisive factor for voters in state and federal elections.
Pulse AIAsk about this story
Answers are generated by AI from the story summary; they are not investment, health or legal advice.
