Summer is right around the corner. And depending on the part of the country you live in, temperatures can easily reach into the three digits. It’s why air conditioning companies are already advertising. If you need your system fixed or replaced, now is the time to do it.
There’s just one problem. Even with a perfectly functioning AC, you’re going to pay a pretty penny. Energy rates are higher – and we get to thank Joe Biden for that. Don’t thank him personally, though – he’ll just blame it on Vladimir Putin.
We’re getting beat up at the grocery stores and the gas pump. We really had hoped to not get beat up on our electric bills, too. That was wishful thinking…
The U.S. Energy Information Administration (EIA) has already delivered the bad news. As Fox Business reports that “on average there will be an increase of 3.9% in the price of electricity for U.S. households this summer.”
The VP of public policy for C3 Solutions, Nick Loris, explains that it’s because of supply and demand. When there’s constrained supply and higher demand, we end up with higher prices. Loris went on to say that prices were low because there wasn’t quite the demand during the pandemic. “As the economy opened back up, demand increased and outpaced supplies. Russia’s invasion of Ukraine made things worse.”
Ahh, there it is – at least partial blame on Russia. However, the reality is that natural gas already provides 38 percent of electricity needs in the U.S. The demand has been increasing regularly.
Russia isn’t to blame – the invasion into Ukraine only exacerbated the issue.
There’s not really much that we can do about it. We have to have AC in order to remain comfortable and survive the hottest days of the year.
According to EIA, though, New England will be hit the hardest, with their costs expected to rise more than 16 percent. Much of this is because these states rely heavily on natural gas for all of their electric needs.
The energy distribution companies are all regulated. They operate in a competitive wholesale market. And they’re all seeing the kWh costs rise. There’s nothing they can do but pass the costs to the customers.
You want AC? Get ready to pay for it. It’s just another present from Biden to you – and he’s not even doing anything to fix it.
We can’t expect him to do anything, though. According to him, his hands are tied. It’s all Putin’s fault. It couldn’t possibly be because of his poor policy changes that left us to get our natural gas from other companies instead of right here in the good ol’ US of A.
In the end, you have to prepare yourself for this summer now. Depending on how many kWh you use in a given month, you could be spending $30 or even more per month just to keep your temperatures bearable.
The good news is that there are things that you can do to keep the costs as low as possible. Make sure that your AC unit is working properly and change out the air filters before summer. Keep curtains or blinds closed during the day so that the sun isn’t penetrating the windows and warming up the interior. And, don’t forget that you can dress as cool as you want while you’re indoors.
The tips will only get you so far. If your electric bills get too high, just remember that rage when you head down to the polls during the midterm elections.