Comment by timmg

I'm not an expert but I know that new electric capacity takes a while and often a lot of investment (both in generation but also people forget all the other infrastructure necessary to get it to the right place, new transmission lines especially have been a problem) so both of those factors seem to have kept it high for at least some amount of time and also it's not even guaranteed they will since price increases seem to have been surprisingly sticky across a lot of stuff recently. Also, not to be too glib, but try the "prices will eventually go back down" argument on people who have to make the decision between paying for electricity or food this month and you'll see how well that argument goes over. Financial issues are pretty immediate to the large swaths of American living paycheck-to-paycheck.