Americans to be hit with record-high electricity bills this summer

Americans to be hit with record-high electricity bills this summer Cooling costs have increased 40 percent since 2020 - Bookmark - CommentsGo to comments Americans are facing record-high costs to cool their homes this summer as electricity prices climb and temperatures soar. The average U.S. household will likely spend about $792 on electricity between June and September, up 10.5 percent from the same period last year, when it cost $717, according to new analysis from the National Energy Assistance Directors Association. Since 2020, the average summer cooling costs have increased nearly 40 percent due to rising electricity prices and increasingly hot temperatures. Even adjusting for inflation, cooling costs are projected to be about 7 percent higher than they were six years ago. American households will likely see little relief this summer. Forecasters are predicting record-smashing heat for 2026, meaning more electricity will be used to maintain comfortable and safe indoor conditions. “Electricity prices continue to rise, and hotter summers mean households need to use more electricity simply to stay safe,” said Mark Wolfe, executive director of the National Energy Assistance Directors Association. “The result is that Americans are paying substantially more to cool their homes than they were just a few years ago.” As the cost to cool homes goes up, more and more people are struggling to pay their utility bills. According to the report, one in six American households is behind on their utility bills, with nearly 40 percent of households earning less than $50,000 reporting difficulty keeping up with payments. “When temperatures break records, utility bills often do too,” Wolfe said. “For families already struggling to make ends meet, higher cooling costs can force difficult choices between paying utility bills and covering other necessities such as food, rent, or medicine.” Cooling costs are forecasted to increase in every region of the country, with some of the largest increases occurring in the Mountain and South Atlantic regions. Residents in the West South Central region, which includes Texas, Oklahoma, Arkansas and Louisiana, are expected to see some of the highest electricity bills in the country this summer, according to the report. Many Americans will see more expensive electricity bills as hot summer temperatures are expected in the Northwest and northern Rockies, as well as in the South from Texas to Florida, according to the Weather Channel. The heat has already begun in much of the country. According to NBC News, an estimated 26 million people across the West, Plains and Southeast will experience extreme heat starting this weekend, with some areas seeing temperatures from the 90s to over 100 degrees. The West Coast will also see higher temperatures this weekend, ranging 10 to 25 degrees above average this weekend. Meanwhile, the report found that existing energy assistance programs do not keep pace with the rising cost of electricity. As a result, the National Energy Assistance Directors Association is calling on Congress to increase funding for the Low-Income Home Energy Assistance Program to $7 billion for the fiscal year 2027. Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their replies Comments [Image text:] ON/OFF HOME SETTINGS