We didn’t just get expensive electricity, we built a system that makes it inevitable
By
William Murray
|
February 25th, 2026
Most Americans don’t think about electricity until the monthly bill arrives.
It comes once a month, often quietly, but lately it’s landed like a thud. Heating your home now costs hundreds more a month than it did just a few years ago. You use the same appliances. You flip the same switches. Nothing in your daily life has changed – except the price.
Why?
When one looks inside the electricity system, the experience is less like analyzing an immense machine than being fed into one, resembling the immortal scene in “Modern Times” where Charlie Chaplin’s factory worker is swallowed by the equipment he’s working on.
The American electricity market is not guided by an “invisible hand” of supply and demand, but by an accumulation of misaligned rules laid down over decades. Layer upon layer of regulation, subsidy, mandate, and accounting rules to a point where the system became fixed in an upward, inflationary tilt, impervious to efforts to change.
There are at least a half-dozen federal environmental regulations that have more to do with rising electricity prices than tariffs or the data-center buildout, and a good example to start with is called Construction Work in Progress (CWIP).
As a new issue brief makes clear, it helped change who pays for America’s infrastructure.
https://www.cfact.org/2026/02/25/we-didnt-just-get-expensive-electricity-we-built-a-system-that-makes-it-inevitable/