US electric, gas utility rate requests spike to $4.5B in Q3: PowerLines

Electric and gas utilities asked regulators for a record $4.5 billion in rate increases during the third quarter of this year, bringing total requests so far in 2026 to $23.1 billion, according to a report from the advocacy group PowerLines. The group's founder says the increases reflect rising utility costs and raises the question of how elected officials will respond.

The jump in rate requests comes as household energy costs are already climbing. Residential electricity prices nationally rose about 7.3% between April 2025 and April 2026. Looking ahead to winter, homes that heat with electricity are projected to pay 9% more than last year, natural gas customers face a 5.8% increase, propane customers 8.7%, and homes heating with oil face a 31.3% jump. Utilities say the increases are tied to growing investment in the power grid to keep up with rising demand, including from data centers.

One example cited: FirstEnergy's Jersey Central Power & Light in New Jersey asked for a $253 million base rate increase plus recovery of $476 million in storm-related costs, which would raise the average residential bill by about 8.8% — though the utility says that increase would not show up on bills until 2028. Other large requests came from utilities in Oklahoma, Indiana-Michigan, Virginia and Texas. If you live in an area served by an investor-owned utility, these regional filings are a reminder to watch your own rate case and winter heating costs, since the size and timing of any increase varies by state and utility.