Business
‘I had no electricity for six months’: American families struggle with soaring energy prices
Danielle KayeBusiness reporter
Kristy HallowellKristy Hallowell had just lost her job when her energy bill unexpectedly tripled to $1,800 a month.
Unable to pay, her gas and electricity were cut off and she, her two children and her mother spent six months of last year relying on a generator to light and heat their house.
The 44-year-old is one of millions of Americans who have fallen behind on their energy bills as prices have soared over the past year.
The electricity is now back on at her home in Greenwood Lake, New York, after a local non-profit helped reach an agreement with the utility to accept a partial payment.
But the gas is still off and electricity bills keep mounting this winter, leaving her in fear of another shut-off. She said she now had about $3,000 in utility debt.
“This has been traumatic, to say the least,” she said.
Nearly one in 20 households are at risk of having their utility debt sent to collections heading into the winter months, according to a recent report.
The number of households with severely overdue utility debt rose by 3.8% in the first six months of Trump’s second term, the analysis of consumer credit data, compiled by the Century Foundation and Protect Borrowers, found.
Residential energy bills have emerged as a key cost-of-living concern among American consumers, as many buckle under the weight of rising prices and sour on US President Donald Trump’s handling of the economy.
Official economic data from November shows electricity prices rose 6.9% from the year before – much faster than overall inflation.
Trump, who during his campaign said he would cut energy bills in half, has claimed that costs are falling. “Costs under the TRUMP ADMINISTRATION are tumbling down, helped greatly by gasoline and ENERGY,” he posted on social media in November.
The White House blames former President Joe Biden and US central bank interest rates for the lingering economic pain.
But in the wake of Democratic wins in recent state and city elections and polls showing waning consumer confidence, the Trump administration has shifted its messaging to focus on affordability, in a bid to allay voter anxiety about the cost of living in the US.
At the same time, the federal government has proposed slashing the funds it gives to states to help low-income residents pay their utility bills.
Experts also warn that the Trump administration’s rollback of clean energy projects – including its recent decision to pause leases for offshore wind energy projects being built near the Atlantic coastline – could drive electric bills even higher.
“This is going to be a huge deal, both as a policy matter and a political matter,” said Alex Jacquez, chief of policy and advocacy at the Groundwork Collaborative, a progressive economic think tank.
Laurie Wheelock, executive director of the Public Utility Law Project of New York, said many of her clients – low-income utility customers in New York state seeking help with their bills – have let utilities fall to the side as rent, health insurance and other costs keep getting more expensive.
In 2025, the non-profit saw an increase in utility account terminations for unpaid bills, Ms Wheelock said.
Before the pandemic, clients who approached the organisation typically owed $400 to $900 in utility debt. Now, people often owe upwards of $6,000, she said.
“There’s been this difficult mix of increased costs and financial instability,” she added.
Winter heating costs are expected to jump 9.2% this season, according to the National Energy Assistance Directors Association, driven by rising electricity and natural gas prices and unusually cold weather.
Energy bills tend to be among the highest in the northeast US, the report shows. But households from California to Georgia to South Dakota are also feeling the strain of rising costs over the past year.
Power-hungry tech companies
There are several reasons for rising residential energy costs, analysts say.
For one, the price of natural gas, which is a crucial component of nearly half of electricity generation in the US, has jumped over the past year. The natural gas industry is pushing more and more production overseas, contributing to higher domestic prices.
Electricity generation is “being saddled with ever-increasing costs of fuel”, said John Quigley, a senior fellow at the Kleinman Center for Energy Policy at the University of Pennsylvania.
Recent shifts away from clean energy investments could also be at play. A report from the climate advocacy group Climate Power cites the Trump administration’s cancellation of projects that would have produced enough electricity to power the equivalent of 13 million homes.
The gutting of clean energy projects has contributed to a 13% jump in electricity bills since Trump returned to the White House, the report found, as the US increases its dependence on foreign oil.
AFP via Getty ImagesAnother key factor: energy demand from the artificial intelligence boom is straining the power grid.
Technology companies from Alphabet to Amazon are ramping up their investments in AI infrastructure, and data centres require massive amounts of electricity.
Continued and increasing electricity demand for data centres is pushing up prices for everyone, Quigley said.
‘You can deal with people’s frustrations’
Treasury Secretary Scott Bessent told ABC News in November that electricity prices were a “state problem”.
“There are things that the federal government can control. Local electricity prices are not one of them,” he said.
But some analysts argue that if the federal government were to embrace clean energy, it would help lower prices.
On the state level, some lawmakers have proposed requiring large data centres to supply their own power, so families don’t shoulder the costs.
In Virginia, where data centres have proliferated, governor-elect Abigail Spanberger has announced plans to ensure tech companies are “paying their fair share”, encouraging clean on-site and off-site generation and storage at data centres.
Virginia utility regulators recently authorised a separate rate category for the biggest electricity customers, like data centres, requiring them to pay a larger share to shield other ratepayers.
“You can deal in the near term with people’s frustrations around prices while dealing with these long-term structural fixes,” said Groundwork Collaborative’s Alex Jacquez.
But any relief for consumers will take time. Residential energy prices are likely to stay elevated in the coming months.
Ibrahim AwadallahLast year, Ibrahim Awadallah, 30, installed solar panels on his home in Charlotte, North Carolina in the hopes of reducing his energy costs.
His plan largely worked. His electricity bills tend to be lower than his neighbours’, even taking into account the $180 he pays per month on his solar panel loan.
Still, in October, Awadallah noticed his bill from his utility company getting more expensive – a roughly 10% increase – even though he was out of town much of the month.
A telecommunications developer has proposed building a data centre nearby in east Charlotte. Awadallah is concerned that the project, if approved, will drive up electric costs even more.
“I don’t think things are getting better anytime soon,” he said.
Business
India EV Market Hits 2.3 Million Sales In 2025, Policy Support, Festive Demand Drive Adoption
India EV Market: India’s electric vehicle (EV) market crossed a major milestone in 2025, with total EV sales reaching 2.3 million units, accounting for 8 per cent of all new vehicle registrations, according to the Annual Report: India EV Market 2025 prepared by the India Energy Storage Alliance (IESA) based on Vahan Portal data. The report, released this week, highlighted that EV adoption accelerated steadily through the year, supported by policy incentives and a sharp festive-led surge in the final quarter.
India’s broader automobile market recorded 28.2 million vehicle registrations in 2025, with two-wheelers remaining dominant, accounting for over 20 million units, or 72 per cent of total sales. Passenger four-wheelers crossed 4.4 million units, while tractors and agricultural vehicles exceeded 1.06 million units, reflecting broadly stable demand across segments. The report noted that overall vehicle sales growth remained steady during Q1 to Q3, followed by a festive-led acceleration in Q4, aided by GST benefits and year-end consumer demand.
Electric two-wheelers continued to anchor EV adoption, with 1.28 million units sold, representing 57 per cent of total EV sales. Electric three-wheelers (L3 and L5 combined) followed with 0.8 million units, or a 35 per cent share, while electric four-wheelers recorded sales of 1.75 lakh units. In the electric four-wheeler segment, the report noted strong momentum in electric goods carriers, particularly in small and light commercial vehicle segments, indicating early progress in the electrification of logistics applications.
Among states, Uttar Pradesh emerged as India’s largest EV market in 2025, with more than 4 lakh EV units sold, accounting for 18 per cent of total EV sales. Maharashtra accounted for 2.66 lakh units, or 12 per cent, while Karnataka recorded 2 lakh units, or 9 per cent. Together, these three states accounted for over 40 per cent of national EV volumes.
Despite lower absolute vehicle sales, states such as Delhi, at 14 per cent, Kerala, at 12 per cent, and Goa, at 11 per cent, recorded higher EV-to-ICE ratios. The report also noted that Tripura, at 18 per cent, and Assam, at 14 per cent, recorded robust EV-to-ICE ratios in 2025.
The IESA report stated that the government determined the electric three-wheeler segment had reached a sufficient level of market maturity and penetration, at around 32 per cent. A major policy development during the year was the conclusion of India’s largest-ever electric bus tender. Convergence Energy Services Limited (CESL) announced the successful completion of a 10,900 electric bus tender under the Rs 10,900 crore PM E-DRIVE scheme, aimed at accelerating green public transport.
The report indicated that while EV penetration remained strongest in light vehicle segments, the government’s focus on electrifying heavy commercial vehicles, supported by dedicated charging infrastructure development, continued to strengthen the long-term electrification roadmap, positioning India’s EV ecosystem for sustained growth beyond 2025.
Business
AI shopping: Google partners Walmart, Shopify and Wayfair to turn Gemini into in-chat checkout platform; what you need to know – The Times of India
Google has expanded the shopping capabilities of its Gemini AI chatbot by partnering with major retailers including Walmart, Shopify and Wayfair, enabling users to browse and buy products directly within the chatbot, the company said on Sunday, AP reported.The move, announced on the opening day of the National Retail Federation’s annual convention in New York, positions Gemini as both a virtual shopping assistant and a transaction platform, allowing customers to complete purchases without leaving the chat interface.According to Google and Walmart, an instant checkout feature will let users buy products from participating retailers through multiple payment providers directly inside Gemini. Customers who link their Walmart and Gemini accounts will receive personalised recommendations based on past purchases, and items bought through the chatbot can be added to their existing Walmart or Sam’s Club online carts.“The transition from traditional web or app search to agent-led commerce represents the next great evolution in retail,” Walmart’s incoming president and CEO John Furner said in a joint statement with Google and Alphabet CEO Sundar Pichai.Google said Gemini’s shopping feature can respond to product-related queries — such as recommendations for ski gear — by pulling items from participating retailers’ inventories and facilitating purchases within the same conversation.The announcement comes amid intensifying competition among tech giants to dominate AI-powered commerce. Google, OpenAI and Amazon are all racing to enable seamless shopping experiences that take users from product discovery to checkout within chatbots.OpenAI and Walmart unveiled a similar partnership in October, allowing ChatGPT users to purchase most items available on Walmart’s website through instant checkout, excluding fresh food. Ahead of the holiday shopping season, OpenAI also launched in-chat purchasing for select retailers and Etsy sellers.Salesforce estimates that artificial intelligence influenced $272 billion, or about 20 per cent, of global retail sales during the recent holiday season.Google said the AI-assisted shopping features in Gemini will initially be available only to users in the US, with international expansion planned in the coming months.
Business
Which Transactions Are Tracked by the Income Tax Department? Check Key Reasons Why You Haven’t Received Your ITR In 2026
Transactions Tracked By Income Tax Department: Imagine you buy a coffee, pay for your movie ticket, or transfer money to a friend. Most of these everyday transactions go unnoticed, yet some payments, investments, and bank movements quietly catch the attention of the Income Tax Department. Have you ever wondered why certain transactions are tracked while others are not? In this article, we will explore which financial activities the tax authorities monitor and which ones remain beyond their radar.
Transactions Tracked By Income Tax Department
According to Section 285BA of the Income Tax Act and Rule 114E of the Income-tax Rules, 1962, certain high-value transactions that exceed specified limits in a financial year must be reported to the Income Tax Department. This is done by filing a Statement of Specified Transactions using Form 61A. The purpose of this reporting is to maintain transparency in financial dealings and help detect any cases of tax evasion.
The Income Tax Department keeps an eye on certain high-value financial transactions. For instance, cash deposits exceeding Rs 10 lakh in savings or fixed deposit accounts are tracked, as are cash deposits or withdrawals over Rs 50 lakh in current accounts. Credit card payments above Rs 1 lakh in cash, or Rs 10 lakh through other modes, also attract attention.
Adding further, the property transactions worth Rs 30 lakh or more, whether purchases or sales, are monitored, along with investments in bonds, shares, or mutual funds exceeding Rs 10 lakh. These thresholds help the authorities track significant financial movements while routine transactions usually remain beyond their radar.
Transactions Not Tracked By Income Tax Department
The Press Information Bureau’s (PIB) fact-checking unit clarified a viral claim suggesting that the Income Tax Department monitors citizens’ emails, social media accounts, online shopping, digital payments, and personal apps. According to the official statement, the Income Tax Department does not track online shopping, digital payments, app-based transactions, or any form of personal spending behaviour. There is no mechanism to monitor an individual’s digital or online activity.
Income Tax Refund Delay In 2026: Key Reasons
If you filed your income tax return (ITR) for FY 2024–25 and are still waiting for your refund in 2026, you are not alone. Many taxpayers are feeling uneasy as refunds seem slower this year. For returns filed for FY 2024–25 (Assessment Year 2025–26), the department has time until December 31, 2026 to process them under Section 143(1) of the Income Tax Act. This means refunds can legally take several months, even after successful filing and verification.
Several factors can cause delays. Very high refund claims can trigger extra checks, while mistakes or mismatches in your information are another common reason. It’s important to ensure your bank details are correct and that your PAN is linked to your Aadhaar. On top of that, any unpaid taxes from previous years can block or reduce your refund. Paying attention to these details can help your refund reach you faster.
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