More than 20 million homes are at risk of losing power due to late utility bills

More than 20 million homes are at risk of losing power due to late utility bills

According to one report, more than 20 million American households are at risk of losing power because they haven’t paid their utility bills.

The National Association of Energy Assistance Directors, an organization responsible for collecting data on national energy programs, says that one in six households is at risk of having their power turned off due to delinquent balances.

In a statement to fox businessCEO Mark Wolfe declared that number “historic”.

Increase in energy prices

A major contributing factor is the rising cost of energy. According to the Department of Labor, natural gas increased more than 30% year over year in July.

While many people saw bills rise this summer, households will also be paying more this winter.

Andrew Lipow, President of Lipow Oil Associates stated:

The consumer is going to pay more for their heating bills this winter.” He also added: “Whether they use natural gas or home heating oil, most are in for a surprise,” reports Fox Business.

Lipow went on to say that “natural gas futures prices are now more than double what they were a year ago.”

Utility debt was $8.1 billion in 2019, but now stands at $16 billion, and delinquent bills have jumped from nearly $400 to $792.

With inflation at a 40-year high, the cost of living has increased dramatically, leaving many households in danger of not having electricity.

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