Trending Now - States Scrutinize Utility Profits Amid Soaring Electricity Costs
WHO:
ABC News - Arizona Attorney General Kris Mayes, a Democrat, is seeking reelection.
AP News - Matt Kasper of the Energy and Policy Institute, Mark Ellis, a former utility executive-turned-consumer advocate, Paul Ferraro, an economics professor at Johns Hopkins University, Travis Miller, an energy and utilities analyst for Morningstar, Pennsylvania Gov. Josh Shapiro, and Indiana Gov. Mike Braun are mentioned.
ABC News - Calvin Butler, Exelon's president and CEO, is also referenced.
WHAT:
ABC News - Pennsylvania Gov. Josh Shapiro pressured PECO to withdraw a 12.5% rate increase, stating that the “20th century utility model is broken.”
ABC News - AES Indiana's parent company is being taken private in a $33.4 billion deal led by private investment giant BlackRock.
ABC News - Arizona Attorney General Kris Mayes is challenging a pair of proposed 14% increases from utilities.
ABC News - Officials and lawmakers in at least six states are trying to block utility rate increases.
AP News - Arizona Attorney General Kris Mayes is challenging two utility rate increase requests.
ABC News - The profits of 110 for-profit utilities rose from just under $39 billion in 2021 to over $52 billion in 2024.
ABC News - AES Indiana requested a 10.1% increase, amounting to $193 million more from ratepayers.
ABC News - PECO's proposed rate increase was 12.5%, or $20 per month for the average residential customer.
WHERE:
ABC News - The states involved include Arizona, Indiana, Maryland, New Jersey, New York, and Pennsylvania.
AP News - The New Jersey Board of Public Utilities is conducting a regulatory review.
ABC News - PECO is a Philadelphia-area utility subsidiary of Exelon Corp.
WHEN:
ABC News - The report from the Energy and Policy Institute was issued in March.
ABC News - Calvin Butler mentioned the decision to withdraw the rate increase request occurred after conversations with stakeholders on May 6.
WHY:
ABC News - Rising electricity bills and corporate greed are driving protests against utility profits.
AP News - The artificial intelligence boom is leading to increased energy demands and rising electric prices.
HOW:
ABC News - Calvin Butler, Exelon's president and CEO, stated that the decision to withdraw the rate increase request was made after conversations with stakeholders who emphasized the importance of addressing affordability.
ABC News - Arizona Attorney General Kris Mayes is challenging utility rate increases in front of the state’s utility regulatory board.
AP News - Utilities are defending their investment returns as necessary for maintaining electric grids and ensuring reliability.
(UPDATED May 17, 2026 23:14 UTC)
Pennsylvania Governor Josh Shapiro is pressuring PECO to withdraw a proposed 12.5% rate increase, arguing that the “20th century utility model is broken.” In related news, AES Indiana's parent company is being taken private in a massive $33.4 billion deal led by investment giant BlackRock. Meanwhile, Arizona Attorney General Kris Mayes is challenging two proposed 14% increases from utilities, as Exelon's president and CEO Calvin Butler noted that the decision to withdraw the rate increase request came after discussions with stakeholders focused on affordability.
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(UPDATED May 17, 2026 17:16 UTC)
Arizona Attorney General Kris Mayes is seeking reelection while also challenging two utility rate increase requests, as officials and lawmakers in at least six states, including Indiana and Pennsylvania, work to block these hikes. The profits of for-profit utilities surged from just under $39 billion in 2021 to over $52 billion in 2024, prompting protests against rising electricity bills and corporate greed. In the Philadelphia area, PECO has proposed a 12.5% rate increase, which translates to an additional $20 per month for the average residential customer, as utilities defend their investment returns as essential for maintaining reliable electric grids.