Electricity prices are climbing more than twice as fast as inflation
Electricity prices are climbing more than twice as fast as inflation
Across the country, electricity prices have jumped more than twice as fast as the overall cost of living in the last year. That's especially painful during the dog days of summer, when air conditioners are working overtime.
Power-hungry data centers have been popping up all over, to serve the boom in artificial intelligence. The Energy Department projects data centers and other commercial customers will use more electricity than households for the first time ever next year. That's a challenge for policymakers, who have to decide how to accommodate that extra demand and who should foot the bill.
The soaring price of natural gas is also pushing power prices higher. More than 40% of electricity is generated using natural gas. As more gas is exported as liquid natural gas, the competition from foreign customers is driving up the price utilities have to pay here at home.
So weird. It's almost like everything is somehow rising faster than inflation....
Except minimun wage... somehow that hasnt gone up at all
No, see, we can't raise minimum wage because of the - hmm, right.
Feels like the meaning of "inflation" has been lost somewhere in there...
The meaning of inflation these days is "whatever the corporations think they can get away with charging."