Some states blast utilities for ‘blatant corporate greed’ as profits rise while consumers revolt against AI-fueled electric bills
Some states are pushing back against rising utility profits amid increasing electricity bills driven by AI demands. Officials in at least six states are challenging proposed rate increases and calling for changes in utility financing models. This situation is heightened during a midterm election year, with affordability becoming a key issue for voters.
- ▪Governors and attorneys general in states like Arizona and New York are protesting against rising electricity bills.
- ▪Utility profits have surged from under $39 billion in 2021 to over $52 billion in 2024, according to the Energy and Policy Institute.
- ▪Consumer advocates argue that a significant portion of utility bills is due to excessive profits from for-profit utilities.
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The artificial intelligence boom is leading to fights in some states over growing utility profits, as governors, attorneys general and others protesting rising electricity bills say cash-strapped residents are stuck in a broken system.Recommended Video Officials and lawmakers in at least six states — including Arizona, Indiana, Maryland, New Jersey, New York and Pennsylvania — are going to new lengths to try to block rate increases proposed by utilities. Some are pressing utilities to completely change their model for financing major system upgrades. The push comes during a midterm election year in which affordability is the leading theme in Democrats’ attempts to loosen Republicans’ control of Washington.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Fortune.
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