If the temperature approaching 90+ degrees this summer does not make you sweat, the price of staying cool definitely will.

Electricity prices are going to continue increasing and to be extremely high this summer says consulting firm Global Insight. And there is no relief in sight. Prices will be incredibly high next winter.

Natural gas, which powers the majority of the countries electricity, the price has been surging. Companies that generate electricity by using natural gas charged 71 percent more in May 2008 than in the summer of 2007. These escalating prices reinforce the need and methods for how to save on your electricity bill.

Unfortunately, electricity users will not feel the full brutal force of the higher oil and natural gas prices until later in the year. Businesses, however, do have to set their prices set quarterly and could see further electricity price increases by fall.