Multiple U.S. Utilities Implement Electric Rate Increases for Infrastructure Upgrades

Utility customers across multiple states are facing rate increases as companies seek to fund infrastructure improvements and comply with regulatory requirements. In Pennsylvania, while Exelon reported soaring profits, PECO customers are experiencing rising bills due to surcharges designed to guarantee returns, prompting calls for regulatory intervention. New York's NYSEG proposed the 'Powering NY' plan, aiming to modernize the grid with a $16 billion investment that will be phased in over five years, likely leading to higher rates to support climate goals. Oak Ridge electric customers will see a 2.75% rate increase starting in October to cover rising operational and infrastructure costs, amounting to about $3.50 more monthly. Similarly, Springfield's City Utilities plans phased rate hikes in 2027 and 2028 to finance $283 million in infrastructure, including new natural gas turbines and battery storage, driven by stricter planning reserve margin requirements. Across these regions, utilities emphasize the necessity of these increases to ensure reliable service and modernize aging systems amid growing demand and regulatory pressures.