With millions of Americans struggling to pay utility bills, energy companies are facing a looming revenue crisis.
Since the onset of the pandemic, millions of Americans have been struggling with paying rent and utility bills, putting a strain on power utilities’ revenues and raising the question about who and when will foot the bill for the billions of US dollars in energy bills arrearages. More than half of US states introduced moratoriums on electricity and gas utility shutoffs in March 2020 due to the Covid-19 emergency as millions of Americans lost their jobs as a result of the pandemic impact on businesses and the economy. Those moratoriums eased households’ fears that they would be left without lighting or heating while also struggling to pay rent or put food on their tables. Winter and Covid-19 utility shut-off moratoriums are set to end in 28 states between February and March 2021, according to the National Energy Assistance Directors Association (NEADA).
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