US Households Expected to Pay Higher Utility Bills for Decades

[Epoch-Times-Bot]

US Households Expected to Pay Higher Utility Bills for Decades

Utility costs have surged across the nation this year, leaving millions of Americans falling behind on their monthly bills. It might get more challenging as households nationwide can expect to pay higher utility costs for decades to come due to storm recovery bond charges.
Natural disasters have ravaged the United States in recent years, from hurricanes to winter freezes. These weather events have destroyed infrastructure and cost electric and gas utility firms billions of dollars in repairs and maintenance.
According to Bloomberg data, in the first nine months of 2022, companies have taken on a record $17 billion in recovery bonds, with estimates suggesting it could top $20 billion by the end of the year. This is up from the $7 billion in long-term recovery bonds that utilities and state governments issued between 2007 and 2021. Most utility debt has been weather-related as these companies try to strengthen their power grids against fierce storms and harsh conditions....

Source: US Households Expected to Pay Higher Utility Bills for Decades

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