U.S. Utility Bills Could Jump 40% on Energy Rally, Barclays Says
- Bank’s research shows household impact of rising natural gas
- Consumer budgets already under strain from soaring inflation
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U.S. households could see a 30% to 40% hike in monthly energy bills this year if high natural gas prices persist, according to new analysis from Barclays Plc.
Average electric and natural gas bills will be $55 to $75 higher than in 2020 if natural gas costs remain at $6 to $7 per million British thermal units, Barclays said in a research note. Benchmark gas futures surged to a 13-year high of $8.474 on Wednesday as hot weather boosted domestic demand for the power-plant fuel.