Utilities want to invest billions of dollars to upgrade the electric grid—which is going to make customers’ bills even more expensive
American utilities are planning their biggest spending increases in decades to upgrade aging grids, prepare for electric vehicles and make the transition to renewable energy—moves poised to furtherThe plans propose tens of billions of dollars in spending in the coming years to reduce carbon emissions, partly in response
to state and federal mandates, and to replace aging infrastructure that has become more prone to failure. Edison Electric Institute, an industry trade group, expects that utilities will invest roughly $140 billion each year in 2022 and 2023, substantially more than any year since 2000, when the group began tracking spending.
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