Electricity rates on the rise everywhere as companies look to offset storm costs

Duke Energy, Florida Power and Light, and TECO are raising rates this month to offset costs incurred during Hurricane Ian and Nicole, along with a volatile natural gas market. That means those costs will be pushed to the consumer in the form of higher prices. "U.S. natural gas futures price volatility, both implied and historic, hit record highs in 2022 as global prices spiked due to supply disruptions and sanctions linked to Russia's war in Ukraine, feeding demand for U.S. exports," according to Reuters.