⚡ Electricity Prices

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Prepare to pay more for less-reliable electricity:

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• Electricity prices have increased 4.4% over the past year, outpacing the overall inflation rate of 3%
• From 2013-2022, electricity outage frequency has increased by ~20% and outage duration by 46%

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The country’s power grid is becoming more unstable due to age; 70% of the U.S. electricity grid is more than 25 years old, and extreme weather.

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Not great timing: Electricity demand is surging from data centers needed for AI and electric vehicles (EVs), which could strain the power grid even more. Data centers are projected to use 9% of U.S. electricity by 2030, and electricity demands from EVs jumped to new highs in early 2024.