Utilities want $31 billion more from customers, and your electric bill is about to feel it

Electric and gas utilities asked state regulators to approve billions in rate increases.

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• Electric and gas utilities sought to raise customer bills by 31% in 2025.
• Rate hike requests last year more than doubled from 2024.
• Utilities are on track to spend $1.1 trillion expanding the power grid by 2029.

The average American's skyrocketing electric bill has caught the attention of everyone from President Donald Trump to Microsoft executives — just don't expect lower rates in 2026.