Inflation is more than 4.3% discount Residential electricity price – Increase with that?

“Inflation is our friend” Joe Biden? Or Dan Akroyd?

Anyone remember this classic? Saturday Night Live Skits?

I still laugh off my @$$ whenever I watch it. I have some of the first SNL seasons on DVD. They’re just as funny today, if not more fun than the first time I saw them in college.

Well, reality now seems to be mimicking art:

April 7, 2022
US residential electricity spending to grow by $5 per month in 2021

Utility bills for residential customers in the United States increase by $5 per month to average $122 in 2021. Average monthly utility bills range from as high as $178 per month. month in Hawaii to as low as $82 per month in Utah.

The 4.3% increase in 2021 is the second largest annual increase in nominal electricity spending over the past decade. According to the US Bureau of Labor Statistics’ Consumer price indexOverall consumer prices increase at a slightly higher rate of 4.7% in 2021. Residential electricity prices tend to increase less than overall inflation measures over the past decade.

[…]

Connecticut has the second highest average residential utility bill, at $156 per month. This ratio is typical of New England states, where electricity prices tend to be higher due to constraints on natural gas pipeline capacity during peak demand times that drive up generation costs.

[…]

Main Contributors: Alex Gorski

Card: residential area, electricity, price, practicality, Statuses, Hawaii, Utah

EIA

“Inflation is our friend”

What goes up and down at the same time? Obviously the price of residential electricity.

Oscar Wild says it best: