Distribution was the primary driver of the increase in utility spending between 2019 and 2024

Real change in annual IOU expenditures, 2019-2024

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Graphic adapted from Wiser, R., Barbose, G., Cappers, P., Deason, J., Forrester, S., Gorman, W., O’Shaughnessy, E., Hledik, R., Lam, L. & Yan, A. (2025). Factors influencing recent trends in retail electricity prices in the United States. Lawrence Berkeley National Laboratory & The Brattle Group.

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