The price of electricity isn't what it used to be. Utility and power costs all over the U.S. have risen dramatically in the last year. This increase has doubled, sometimes even tripled, electric bills in recent months ruining well-balanced budgets nationwide. The reason for this inflation stems in part from shortages in the national oil supply and increases in oil prices.
Oil is distilled to obtain natural gas, the main source of power that is used to create electricity.
Having already dipped into national reserves, the oil supply is low thereby increasing its value and growing more expensive to consumers. Further reason for the price rises can be attributed to legislative attempts to deregulate the electrical industry. As much of the power market has become nearer monopolization, deregulation policies force electricity to be purchased on an open market to create competition. California is the only state to have been deregulated as of yet. While their electrical industry struggles to stay afloat as there is no competition yet, the states demand for electricity has raised the value and consequentially, the cost of the service.