Electricity Prices Jump 4.8% Nationwide, Pinching Treasure Coast Wallets

Electricity prices climbed 4.8 percent nationwide in February compared with a year earlier, outpacing overall inflation and intensifying financial pressure on households already stretched thin — including the hundreds of thousands of families in Martin, St. Lucie, and Indian River counties who depend on Florida Power & Light to keep the lights on and air conditioners running.

The Labor Department's Consumer Price Index, released in March 2026, showed the February figure. Piped natural gas prices rose even faster — 10.9 percent year-over-year in the same period, according to the federal report. Analysts warn those numbers could climb further after U.S. and Israeli military strikes on Iran sent energy markets recoiling in recent weeks.

For Treasure Coast residents, the national numbers are more than statistics. FPL, which serves the region, has filed multiple rate adjustment requests with state regulators in recent years. Customers here already contend with some of the highest summer cooling loads in the country — months where running a central air conditioner is not optional but a medical and safety necessity. A rate environment that is punishing households in West Virginia, where one disabled woman on a fixed income logged more than $5,000 in electric bills over the past year, carries a parallel warning for Florida families living paycheck to paycheck. [NEEDS VERIFICATION: Current FPL average monthly bill figures for Martin, St. Lucie, and Indian River counties — public records request to Florida Public Service Commission recommended.]

The White House attributed rising energy costs to the Biden administration. "Lowering electricity prices is a top priority for President Trump," spokeswoman Taylor Rogers said in a statement. "He is aggressively unleashing reliable energy sources like coal and natural gas." President Trump had promised during his 2024 campaign to cut Americans' electricity bills by half within his first year to 18 months in office.

That timeline has passed without a reduction. An AP-NORC poll from March 2026 found 35 percent of U.S. adults described themselves as "extremely" or "very" concerned about affording electricity in the coming months. An analysis by the nonprofit PowerLines found pending gas and electricity rate hike requests could affect more than 80 million Americans nationally.

Energy analysts cited surging demand from artificial intelligence data centers, deferred infrastructure upgrades, extreme weather, and the Trump administration's push to export higher volumes of liquefied natural gas — which tightens domestic supply and pushes prices upward — as driving the increases.

The Florida Public Service Commission is the state agency that approves utility rate changes. Public filings are available at floridapsc.com.

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