Americans to be hit with record-high electricity bills this summer (opens original article in a new tab)

Americans face record-high electricity bills this summer as cooling costs rise 10.5% from 2022, with 40% of households struggling to pay due to increasing prices and extreme heat forecasts.

• Average U.S. household electricity costs for summer 2023 will reach $792, a 10.5% increase from 2022
• Cooling costs have risen 40% since 2020 due to higher electricity prices and hotter temperatures
• One in six American households is behind on utility bills, with 40% of low-income households struggling to pay