The Great American Shale Boom has helped U.S. homeowners and manufacturers alike lower their electricity bills.
Across the pond lies a parallel universe.
In the last four years, European electricity costs have spiked 17% for homeowners and 21% for industry, according to the Institute of Electrical and Electronics Engineers.
The situation is most acute in the U.K., where one in six households was spending more than 10% of its income to "maintain adequate warmth" in 2011, according government statistics cited by Reuters' John Kemp.
What went wrong?
Reuters' Karolin Schaps and Barbara Lewis write that much of the increase is related to the cost of complying with the continent's ambitious carbon emissions targets. The European Union is supposed to cut emissions to 20% below 1990 levels.
That's not coming cheap.
For instance, German utilities just increased the surcharge levied on consumers to fund more renewables by 18% to 6.24 euro-cents per kilowatt-hour. German households now have the third-highest power bills in Europe.
European power suppliers are saying the drive to renewables has caused them to mothball 51 Gigawatts-worth of cheaper fossil fuel-based power sources, or the equivalent of the combined capacity of Belgium, the Czech Republic and Portugal.
Some countries have already turned back to coal, the price of which has fallen because of the continent's struggling economy and the rise of natural gas in the U.S., which has boosted coal exports. European coal generation increased 6% in 2011 YOY and 2% in 2012 YOY.