Consumers across the United States are facing increased utility bills, impacting household budgets significantly. A new study by Bank of America highlights the role of artificial intelligence (AI) and data centers in this trend.
The study reveals that Americans paid 37% more for natural gas in the third quarter of this year compared to the same period last year. Additionally, the Bureau of Labor and Statistics reported a 51% increase in electricity prices in the year ending in September.
Gas service prices also rose by more than 11%, according to the study. The expansion of data centers is contributing to increased electrical grid capacity and grid investments. This, in turn, is placing additional pressure on consumers’ utility bills.
