Overall, Americans are paying 11% more for #electricity than they were in January, though that number varies widely: Costs have risen 37% in Missouri but have fallen in 3 states by as much as 13%, #NEADA found.

“With prices going up so rapidly, electricity is becoming #unaffordable in many parts of the country,” said Mark Wolfe, an #energy economist & exec dir of NEADA. “And it isn’t just lower-income households anymore; it’s spilling into the middle class.”

#economy #affordability #Trump

#Utility #prices have risen roughly 3X faster than overall #inflation this year, at a precarious time for the #economy. Businesses are announcing #MassLayoffs, & it’s taking #unemployed Americans much longer to find new #work. There are also signs that lower- & middle-class families are pulling back on spending.

#affordability #CostOfLiving #Trump #recession #trumpcession

“People are feeling a squeeze across the board, but what’s even more alarming is that we’re seeing people struggling to pay for these very, very basic necessities,” said Julie Margetta Morgan, president of the Century Foundation, a liberal think tank. “#Electricity is not a luxury; it isn’t optional.”

#economy #affordability #CostOfLiving #Trump #inflation #recession #trumpcession

Nearly 1 in 20 households, or about 14 million Americans, were so behind on #utility #debt that it was reported to collections agencies or in arrears as of June, according to an analysis by the Century Foundation & Protect Borrowers, a nonprofit that advocates for consumers. Meanwhile, the average overdue balance of $789 has risen 32% since 2022.

#economy #affordability #CostOfLiving #electricity #Trump #inflation #recession #trumpcession

…At Citizens #Utility Board, a consumer advocacy group in Chicago, the number of people calling with disconnection notices has risen 70% since last year, spox Jim Chilsen said, noting “intense consumer pain over power bills.”

Utility companies say they are expanding financial assistance programs & adding flexible polices….In NYC Con Edison spox Jamie McShane said the company is making “every effort” to offer payment plans & extensions before shutting off #power.

#economy #affordability #Trump

“Service termination remains a last resort,” he said.

Still, the utility has reported 111,000 residential power shutoffs so far this year, up from 30,000 in all of 2024.

…A majority of Americans — 6 in 10 — say they are spending more on #utilities than they were a year ago, & they blame #Trump for the rising #prices, according to a Washington Post-ABC News-Ipsos poll conducted in late October.

#economy #affordability #CostOfLiving #electricity #inflation #recession #trumpcession

…experts say the situation is likely to get worse in coming months. The cost of #heating a home this winter is expected to rise 7.6% to an average $976 because of rising #electricity & #NaturalGas costs, according to estimates from #NEADA.

#economy #affordability #CostOfLiving #inflation #recession #trumpcession