About one in five Americans have cut back on grocery spending or considered buying cheaper foods to pay their electric bills, while about one in four have turned down the heating or air conditioning to uncomfortable levels or considered doing so, according to a new Consumer Reports survey.
The findings highlight the financial trade-offs that households are making as electricity costs rise, with some consumers also cutting back on non-essential spending, including dining out and travel.
The nationally representative survey of 2,003 U.S. adults found that 81% of Americans living in the same home for at least three years said their electricity bills had increased during that time. More than a quarter, or 28%, reported increases of 20% to 49%.
Among those surveyed whose bills increased, about 3 in 4 said rising costs were putting a strain on their household finances, according to Consumer Reports. People with annual household incomes below $85,000 were more than twice as likely as those with higher incomes to say the increases put a strain on their finances.
Rising electricity costs add to broader affordability concerns as Americans also face higher gasoline and diesel prices amid rising oil prices linked to the war in Iran. The financial pressures come just weeks before the midterm elections, with the cost of living, health care, food prices, gasoline prices, and food and housing being the top household expenses voters want lawmakers to address, according to a recent Reuters/Ipsos poll.
“We’re hearing from a lot of people who don’t know what they can do to afford higher rates,” Sara Enright, senior director of security and energy at Consumer Reports, told CBS News.
What causes electricity bills to go up?
Respondents most commonly cited utility company profits as a factor affecting their electricity costs, with 45% identifying them as a contributor.
Other commonly cited factors include increased electricity demand from data centers and artificial intelligence systems (38%), fluctuating fossil fuel prices (37%), and the cost of updating and repairing energy infrastructure (36%).
Americans have also expressed skepticism about monitoring public services. About three-quarters of those surveyed said they have little or no confidence in state utility regulators to protect their interests. Only 1% said they had complete trust in regulators.
“Americans are being asked to foot the bill for costs they did not create and cannot control,” Enright said in a Consumer Reports statement. “This survey shows that people see clearly. They want the costs and risks to stay with the companies that create them, not with residential customers.”
Gn bussni
