Released: June 16, 2008

Electricity bills going up, up, up

Source: Paul Davidson, USA Today

Here’s a shocker: Electricity bills are heading up. Way up. Utilities across the USA are raising power prices up to 29%, mostly to pay for soaring fuel costs, but also to build new plants and refurbish an aging power grid.

Even more dramatic rate increases are ahead. The mounting electric bills will further squeeze households struggling with spiraling gasoline prices.

“Consumers now face a tough reality on electricity,” says Mark Cooper of Consumer Federation of America.

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