As the mercury rises, our household energy costs tend to rise as well. The combination of higher demand on the electric grid and higher household consumption of energy as we try to keep our homes cool and comfortable, can result in skyrocketing electric bills. And in 2022, with global uncertainty driving higher energy costs worldwide, the average cost of electricity is going up. According to the U.S. Energy Information Administration, the average household in America saw increases of about 4% in February of this year as compared to February 2021, and higher rate hikes are almost surely on the horizon.