“Tsunami Of Shutoffs”: 1 In 6 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.

Source: Bloomberg

Electricity inflation is being propelled by soaring costs of fossil fuels, such as natural gas, coal, and petroleum. – READ MORE

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