Does it seem like your electric bill just keeps creeping higher and higher? It’s not your imagination, and it isn’t just you. Over the past decade the electricity rate has gone up a whopping 42% and is now at a record high.
The price of electricity hit a record for the month of October, according to data released Wednesday by the Bureau of Labor Statistics. That made October the eleventh straight month when the average price of electricity hit or matched the record level for that month.
The average price of electricity in October was 13.2 cents per kilowatt hour (KWH), up from 12.8 cents per KWH in October 2012—and up from 9.3 cents per KWH in October 2003.
Americans now pay 42 percent more for electricity than they did a decade ago. (Read More)
Maybe that’s why so few people want to buy the electric cars our government keeps throwing our money away on.
Oh well, it’s not like Obama didn’t tell us that under his plan electric rates would necessarily skyrocket.