IFO report: Pa. electric defaults jump nearly 12%
The default price charged by electric utilities in Pennsylvania jumped almost 12% for the six-month period beginning in June, according to a new analysis by the state Independent Fiscal Office. It’s just the latest sign of the financial strain faced by ratepayers due to electric demand fueled by the growth of data centers needed for artificial intelligence infrastructure, the IFO report said. Over the last four years, when all costs and taxes are included, the average monthly household electric bill has increased 34.9% more than double the rate of inflation over the same period, the ...