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Electricity prices are climbing more than twice as fast as inflation

Electricity prices are rising more than twice as fast as overall inflation. That's especially costly during the dog days of summer when air conditioners are working hardest. In addition to hot weather, a variety of factors are causing power bills to climb, including the high cost of natural gas used to generate electricity and soaring demand from data centers.

A text message from his utility said a piece of equipment had failed at 2 a.m. By the time a repair crew showed up eight hours later, the hot, sticky Florida summer was already taking a toll. CEO Armando Pimentel said the deal would ensure, "we can continue to provide reliable electricity to power our fast-growing state while keeping customer bills low." "The growth of data centers is far outpacing the response by grid managers, public utility commissions across the country, and they're racing to catch up."

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