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Electricity bills in the US will be 42% higher than two years ago

23 September 2022
2 min.
Electricity bills in the US will be 42% higher than two years ago

Paying for electricity

The average electricity bill of US residents could increase by 42% this coming winter compared to the 2019-2020 season, NBC reported on Thursday, citing estimates from experts at the National Association of US Energy Assistance Directors (NEADA). NBC reported this on Thursday, citing estimates from experts at the National Association of US Energy Consumers Assistance Directors (NEADA).

"Average winter heating costs for American households are projected to increase by 17.2% over the same period last year, and electricity prices could rise by 42% compared to the winter before the COVID-19 pandemic began," the broadcaster noted.

NEADA calculates that the cost for Americans to heat their homes is "91% directly or indirectly dependent on the price of natural gas," NBC pointed out. Many states, to make up for the resulting shortfall, are increasing their purchases of gas at the current higher prices. For this reason, "consumers are likely to face higher electricity bills in the coming months".

Con Edison, the energy company responsible for electricity in New York, is sending out notices to its customers that their electricity bills will increase by 22% to $116 a month in winter, while the average charge for heating homes with gas will increase by 32%, to $460 a month.

"The US is being forced to increase gas exports because of rising demand from European Union countries, which are facing supply shortages due to the Ukraine crisis," the broadcaster quoted the director of energy market research at consultancy Tradition Energy as saying.

Bloomberg reported on 23 August that exchange prices for natural gas in the USA had reached $357 per 1,000 cu.m., the first since 2008. In June, the US Department of Energy's Energy Information Administration warned that the country would continue to see high prices throughout 2022.

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