Long-term CTH readers might remember in 2014 when President Obama claimed U.S. families had been paying too little for electricity for too long. As soon as Joe Biden took office, he began implementing the Green New Deal energy policy that, (a) directly forces higher costs for energy; and (b) is now creating massive problems.
In July I noted my own electricity bill had jumped 28% in a single month. That bill was followed by another almost identical increase this month. A review of the Consumer Price Index (CPI) for July [Data Here] shows that nationally the same thing is happening. The year-over-year electricity price has increased 15.2%. However, worse still, the July increase alone was 1.9%, which figures to an annualized rate of 22.8%. More