Americans Paying Record Electricity Prices as Gas Costs Climb
The average retail price for electricity gained 7.4% in September to a record 18.07 cents per kilowatt-hour, the biggest gain since December 2023, according to data released Tuesday.
Photographer: David Paul Morris/BloombergAmerican households are paying more than ever before for electricity after prices surged the most in almost two years, according to the US Energy Information Administration.
The average retail price for electricity gained 7.4% in September to a record 18.07 cents per kilowatt-hour, the biggest gain since December 2023, according to data released Tuesday. Power costs are expected to climb even higher in 2026, and transportation and commercial customers are seeing similar trends, amid rising fuel costs and increased demand.