If you are staring at your energy bill this winter and wondering why it is so high, you’re not alone. 

The cost of natural gas went up 24 percent in February compared to the year before and electricity went up by nine percent, The Guardian reported. This means that customers are seeing some of their highest electricity bills in years, The Wall Street Journal reported. 

“[Prices are] some of the highest energy prices and electricity prices we’ve seen in recent memory, if not ever, depending on the geography,” Bank of America analyst Julien Dumoulin-Smith told NBC News last month. “That is hitting consumers right now.”

A large part of the price surge has to do with natural gas, as natural gas power plants supply about 40 percent of U.S. power. Gas is in a crunch for a variety of reasons, The Guardian explained. Prices initially fell during 2020 because of lower demand due to the coronavirus pandemic. However, prices began to climb again in 2021 as demand increased, but […]