According to the EIA, by how much are residential electricity rates expected to increase?

The correct answer indicates that residential electricity rates are expected to increase by 18% according to the Energy Information Administration (EIA). This figure is significant as it reflects trends in energy pricing that can be influenced by various factors such as fuel costs, operational expenses, and regulatory changes. An increase of this magnitude can have wide-ranging implications for household budgets, impacting how residents plan their energy consumption and manage expenses. Understanding this rate change helps consumers better prepare for the potential financial burden and encourages discussions around energy efficiency and alternative energy solutions as households seek to mitigate costs.