Swamp Notes The political cost of America’s surging electricity bills
30 snips
Feb 6, 2026 
Myles McCormick, FT U.S. economics correspondent who analyzes economic and political fallout, and Martha Muir, FT U.S. energy reporter covering electricity markets and utilities. They probe why U.S. power bills are climbing. They trace drivers from data centres and weather to grid upgrades and policy decisions. They explore regional differences and the political pressure mounting over affordability.
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Grid Costs Are A Big Part Of Higher Bills
- Electricity bills have risen notably since 2022 due to higher demand and post-invasion gas price shocks.
- Transmission and distribution costs and grid weatherproofing are major drivers of recent increases.
Politics Has Hobbled Power Supply Growth
- Political swings have complicated building new generation just as demand rises.
- Both litigation against fossil fuels and restrictions on renewables have slowed capacity expansion.
Propping Up Coal Raises Consumer Costs
- The administration has kept some uneconomic coal plants running, raising costs for ratepayers.
- Keeping retiring coal plants open could add billions to consumer bills.