Aug 24, 2022
“Tsunami of Shutoffs”: 20 Million US Homes Are Behind on Power Bills
“At least 20 million households — or about 1 in 6 American homes — are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg, citing data from the National Energy Assistance Directors Association (Neada).
Neada said electricity prices had increased significantly since 2020 after a decade of stagnation. The steep rise has resulted in billions of dollars in overdue power bills.
Electricity inflation is being propelled by soaring costs of fossil fuels, such as natural gas, coal, and petroleum.
NatGas fuels about 40% of the US power grid and soared to the highest levels since 2008 on Tuesday …
Jean Su, a senior attorney at the Center for Biological Diversity, which tracks utility disconnections across the US, warned of a ‘tsunami of shutoffs’ as the highest inflation in forty years eats away wages.”
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