Electric Bill Will Skyrocket As Service Gets Worse

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People will have to pay more for electricity, and the delivery of that electricity may be interrupted primarily due to climate change. According to The Wall Street Journal, “As the grid becomes increasingly unstable due to age and extreme weather, utilities are ramping up spending on long-overdue maintenance and capital improvements.”

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Climatecrisis247 believes that the utilities need access to more capital, even when they raise rates to offset improvements that will cost hundreds of billions of dollars. Therefore, service will get worse while bills rise. AI and crypto have added to supply and may raise prices.

Food & Water Watch came to a similar conclusion. “Nationwide, skyrocketing energy bills force families to choose between keeping the lights on and other essentials. Climate disasters will make matters worse.”

The essential observation is whether millions can cover the rising electricity bills. This is particularly true of people who live in poverty and, in some cases, the middle class. While this may not be a problem in parts of the nation where weather disasters are rare, violent weather will only worsen on the West Coast, the Southeast, Texas, and states along the East Coast. Climate-driven wildfires could cost $800 billion.

These problems wll affect the economy. A household that faces rising expenses they cannot afford erodes disposable income, and for some people, the jump in housing costs will make this worse. Disposable income is critical to GDP. Additionally, utilities will lose many or have rising capital expenses, putting them financially at risk just as they need to improve service.