Why Electricity Prices Are Rising Across The U.S.

Electricity is getting more expensive for many U.S. families. Utility prices were historically stable, but they have risen noticeably since 2020, driven by the post-pandemic economic recovery, volatile fossil fuel markets, and increased demand from technology. Because natural gas generates about 40% of U.S. electricity, power prices are closely tied to gas markets. As more companies develop alternative sources such as nuclear, we should see new players enter the energy sector, and a growing supply of power could eventually push prices back down.