US utilities requested $31B in rate hikes last year, more than double what they asked for in 2024. (Heatmap)
The scary part? Most of this hasn't hit wallets yet. With electricity prices already up 37% in five years (far outpacing inflation), these new requests are a lagging indicator of pain that will likely land for 81M ratepayers this year.
Interesting stat: The largest rate increase request came from Florida Power & Light, which secured a $7B hike in November after negotiating down from $10B.