Are home energy prices (natural gas and electricity) rising in the US?

Here in Ireland we have 3 private energy companies and 1 semi-State energy company. They are all increasing their prices from September, about 12% on electricity and 21% on natural gas. Not sure about home heating oil. They say this is because natural gas and electricity prices on the international markets are increasing. But what I can’t figure out is can these companies still make a profit even if they didn’t increase their prices but instead absorbed them?

No company can be expected to operate at a loss but when is profit too much profit or does the very notion of "too much" profit even exist, maybe I am naive in thinking it does? However I believe the concept should exist especially when it comes to utilities and other necessities. Why should hard pressed people be forced to pay more for the very basics so that companies can retain their existing profit margins or even increase profits? Thanks.
People can go to a competitor? But what happens when all companies raise their prices by more or less the same amount? What happens when what you end up with is false competition or in essence no competition? As seems to be the situation in Ireland, not sure about the US of course.

8 Responses to “Are home energy prices (natural gas and electricity) rising in the US?”

  1. Marcus Quintilius Varus Says:

    My friend…please just focus your attention on Irish politics, and leave American politics to Americans. Thanks

  2. Free Candy Says:

    Yes. They rise and fall with the seasons. It’s all predicated on demand.

  3. Rarugged Says:

    The Department of Energy is just a corporate machine.

  4. World is Watching Says:

    Definitely. I haven’t even run my ac yet.

  5. Common Sense Says:

    Yes they are by cost and taxes

  6. scooterpoop Says:

    Right now they’re dropping.

    End of August would be a great time to refill oil for oil-heated homes. The Obama-downgrade is causing another recession, and recessions always force gas and oil prices down from reduced demand.

  7. Jim Rooks Says:

    yes energy prices are rising in America, drastically! BTW, there is no such thing as "too much profit", if you raise the price of a given commodity too much, you will soon find yourself out of business since most people will simply go to a competitor for the product. Standard Oil couldn’t be tamed by Uncle Sam, it was tamed by the market

  8. John Says:

    Gas prices can be effected by many things. England has run out of North Sea Gas and is shopping for Gas in the Global Market, buying Liquefied Natural Gas. This drives up prices as English Companies will spend big compared with countries who have cheap domestic pricing.