Russia-Ukraine Crisis Amplifies Need for Washington to Protect Americans From High Utility Costs

Just over a year ago, millions of Americans were blindsided by record snowfall and skyrocketing utility bills as Winter Storm Uri brought below-freezing temperatures to Texas and the Midwest. This year, winter weather emergencies and concerning natural gas market activity have continued to contribute to extreme price volatility, causing many American households to experience more sharp increases in their home heating bills. Meanwhile, Russia’s ongoing invasion of Ukraine has further upended global energy markets. With no resolution in sight, uncertainty around natural gas prices could continue to squeeze consumers’ wallets indefinitely. As President Biden warned when he announced a ban on Russian energy imports, it’s “no time for price gouging” — protecting Americans from excess energy costs is more critical now than ever.