Lates News

According to reports, US Energy Secretary Chris Wright told Fox Business News on Tuesday, "This is the thing I worry about most seven days a week. We want to prevent electricity prices from rising in the United States and bring back job opportunities and opportunities." After decades of stable electricity demand, the surge in electricity consumption due to data centers, new manufacturing, and economic electrification is putting pressure on the US power grid. Energy companies are eager to produce enough electricity and build infrastructure to transmit power nationwide, leading to rising electricity prices. At the same time, politicians and regulators are facing increasing pressure to curb price increases. Over the past year, electricity prices in the US have risen more than twice the overall inflation rate and are still close to historic highs. Data from the US Energy Information Administration shows that residential electricity prices rose by about 10% from January to May and are expected to rise by another 5.8% next year.