U.S. Power Grid Is Becoming Less Reliable, Thanks to Extreme Weather
- More Americans without power more often, Fitch Ratings says
- Extreme weather cause of 25% of utility downgrades since 2017
Damaged power lines and homes after Hurricane Delta made landfall in Holly Beach, Louisiana, in Oct., 2020.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The U.S. power grid is becoming less resilient and reliable, with extreme weather leaving more Americans without electricity more often over the past several years, analysts for Fitch Ratings said.
Weather accounted for 25% of utility company downgrades from 2017 to 2021, analysts said during a presentation Monday at the Edison Electric Institute Financial Conference in Hollywood, Florida. U.S. power networks are also less reliable than those in other industrialized countries, they said.