Quick requested Q&A.
how often are elections?
When load increases enough to require new moderators or when a current moderator has to reduce their time to moderate and requests it.
What is the term?
Life, or until we choose to retire. Yes, You are stuck with me for a while.
Why are we only adding moderators now?
A current moderator is having to reduce time on the site.
Who/what decides how many moderators there are?
The stack-exchange team. There is a team of community managers whom make calls like this, they are also full time employees whom act as a constant group to support moderators whom have questions or need guidance. We let them know if we are having issue and they make the decision.
Why does it seem like 1 year plus a couple months since the last election?
That sounds like about how long it has been, forgive me for not looking it up to be sure. The time since last election does not have any bearing on this election.
Is this deliberate or did someone just forget?
I am betting the reasoning is now clear from the previous questions. No, the community managers have been communicating with us for a while now and this is only a surprise to the site, was hard to stay quiet knowing all the coming excitement.