Feeling the heat: Your AC is going to push summer electricity bills to an average of $186 a month
A hot summer will push your AC bill towards $200 a month
- US households are warned to expect higher electricity bills this summer due to hotter-than-normal temperatures and rising natural gas prices.
- The average monthly electricity bill for June, July, and August is projected to be $186, a 4 percent increase from last year, primarily driven by a 37 percent jump in natural gas prices.
- New England residents will face the steepest increase, with bills rising 6.7 percent to around $200, while the Pacific Coast anticipates a slight decrease.
- Natural gas, increasingly vital for summer power generation to meet air conditioning demand, is seeing rising futures prices, with analysts forecasting continued increases above $4 by August.
- Surging demand from liquefied natural gas exports and utilities is straining gas supply, leading to price volatility despite recent inventory replenishment.