Energy execs say they're trying to address ratepayers' anger
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HOUSTON — Several top energy executives and a federal regulator had a message Thursday for Americans angry about soaring electricity bills: Help is on the way.
Why it matters: The cost of electricity — which has spiked across much of the country over the past year — has become a top-tier political issue, with Democrats making it a focus of their affordability push.
Driving the news: At a CERAWeek panel on affordability, the executives said investments in grid improvements, closer cooperation among states and the federal government, help from hyperscalers, and other measures will bring down rates.
- Southern California Edison president and CEO Steve Powell said wildfire-related upgrades dramatically drove up his customers' rates between 2019 and 2024. But with those investments made, he expects increases to be in line with inflation "for the next five years and maybe beyond."
- Federal Energy Regulatory Commissioner David LaCerte said tech giants' recent pledge to President Trump that they will build or buy their own electricity supplies for data centers also will have a positive effect.
- "I know the media has reported that none of this is enforceable," he said. "Trust me, we're going to enforce these things at FERC. Affordability is top of mind for us."
What we're watching: The officials acknowledged they must improve in telling the public about how they're keeping rate increases in line.
- "We've got to get better in various channels of communications," said Stan Connally, Southern Co.'s executive vice president and chief operating officer.
- "AI can help us do that, too. This revolution we're in right now can help us tailor messages in ways we couldn't even think about doing before."
