In the period 1976-2006, before I retired, I was a lawyer-engineer working on behalf of consumers opposing utility rate increases. This was a period of increasing consumption, construction of multi-billion dollar nuclear plants that were often out of service more than in service, Three Mile Island, inflating fuel costs. At that time, the focus of utility regulation was trying to keep rates affordable.
Today, utility regulation is more focused on getting off of non renewable supply and onto "clean" renewable supply. Regardless of the cost, it seems. Billions of ratepayer dollars are thrown into wind projects, often out in the ocean that soak up billions before a single kilowatt hour ever gets ashore. The attitude seems to be, if enough ratepayer money is thrown at the projects, some will succeed.
And now with efforts to get off of fossil fuel for transportation and building heating, and onto "renewable" electricity, along with growing demand for data centers, the transmission systems to get this power from who knows where to points of consumption will require massive transmission investments. And batteries to store energy are being located throughout the distribution systems to be charged during off peak periods, to deliver power back to the grid during on peak periods.
If you think your electric bills are high, I think you ain't seen nothing yet. But I have found that retirement of my 25 year old central air system with modern heat pumps has cut my summer consumption, and therefore bills, dramatically. The increase in winter bills to heat the home with electricity is offset by the reduction in heating oil I would have otherwise consumed.