U.S. homeowners should experience some relief on their electricity bills in 2023. A report from the U.S. Energy Information Administration expects sales of electricity to fall by 0.9 percent in 2023. This is welcome news for consumers who saw their average electricity bill rise by 2.7 percent in 2022. This was due in part to a hotter summer than the previous year. 

Changes in electricity generation are expected to be the result of solar and wind. Renewal resources will provide approximately 24 percent of U.S. electricity generation in 2023. That's up 2 percent from 2022 and 4 percent from 2021. 

Approximately 38 percent of U.S. electricity is generated from natural gas fuels. This is expected to fall slightly to 36 percent in 2023. Coal-fired electricity is also expected to fall from 23 percent in 2022 to 19 percent in 2023.

Renewable resources are shifting energy generation away from natural gas and coal-fired options. 

A cold winter, paired with global supply shortages, are expected to drive up prices of wholesale electricity by as much as 60 percent, with the highest prices expected in New England where natural gas pipeline constraints and reduced fuel inventories will push up prices. 

Overall, U.S. residents can expect to pay 14.9 cents per kilowatt-hour, up 8 percent from 2021. This increase has been driven by an increase in wholesale power prices and high natural gas prices.