A new study suggests that average electric bills can cost consumers in the US more than $10,000 a year, a figure that is twice as high as the median household in the country.
In a report by the Consumer Federation of America, the research group that has long opposed government attempts to regulate electric companies, the average electric bill in the United States is $1,066 a month, or $8,000 per year.
That’s more than three times the average for all Americans, the group says.
In an interview with CNBC, Consumer Federation president and CEO John Cappelli said he and his colleagues were not surprised to see that the average American electric bill is more than twice as much as the average cost of gasoline.
“We know that electricity costs are a drag on economic growth and a drag for the economy, so we want to make sure that the economy is protected,” Cappellisaid.
“The problem with that is that electricity is a very expensive, complex, and complicated commodity.
It’s not cheap.”
The average electric cost in the U.S. is now more than 40 percent more than gasoline.