I wonder if the best way, and something that might be more likely to pass, is something like "progressive pricing".

Like the first N kilowatt hours are the regular price, and would cover the average case for most people (I don't know what the average amount of electricity used by a person is but the power companies absolutely know). Then the next M kilowatt hours are an increased price, and keep going as energy spikes up.

I think this could work just because this is how income tax works. Somehow that managed to get passed by congress and state legislatures.