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Utilities plan huge power grid upgrades and increase utility bills

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American utilities are planning their biggest increases in spending in decades to upgrade aging grids, prepare for electric vehicles and make the transition to renewable energy — actions that will continue to drive up electricity costs as consumers face historic inflation.

The plans propose spending tens of billions of dollars over the coming years to reduce carbon emissions, in part in response to state and federal mandates, and to replace aging infrastructure that has become more vulnerable to failure. The Edison Electric Institute, an industry trading group, expects utilities to invest about $140 billion each year in 2022 and 2023, significantly more than any year since 2000, when the group began tracking spending .

https://www.wsj.com/articles/utilities-plan-huge-electric-grid-upgrades-adding-to-power-bills-11650187802?mod=pls_whats_news_us_business_f Utilities plan huge power grid upgrades and increase utility bills

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