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Americans Spent Over $22 Billion More on Electricity the Past Year

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Ownerly examines which states saw the largest increase in electric bills the past year, as energy inflation hit a 40-year high.

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Jan 5, 2023 09:27 EST

In 2022, American consumers faced the highest electricity costs in more than 40 years, due to inflation, a rebounding economy and fuel-related repercussions from the Ukraine war. It appears the worst is not over. A newly released study from Ownerly, a leading home and property value estimation platform, analyzed 12 months of Energy Information Administration (EIA) data and found the increase in out-of-pocket consumer spending exceeded 22 billion—not all related to an increase in…

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