February’s Consumer Price Index for electricity was up 12.9 percent year-over-year. March’s CPI for electricity was up by less, 10.2 percent year-over-year.
And now April’s CPI for electricity is in. April’s was up by even less, 8.4 percent year-over-year.
This is the clearest sign yet that the runup in residential electric rates is moderating. It was a little rough there for a while. Driven by the abrupt rise in natural gas prices in the spring and summer of last year from Russia’s invasion of Ukraine.