We came across an interesting article on yahoo finance that expects 20 million customers to potentially be cut off from their utilities.
According to the National Energy Assistance Directors Association (NEADA), roughly 20 million households in the U.S. — one out of six homes — are behind on their utility bills.
As of August, these families owe about $16.1 billion in total, with an average amount owed of $788 — and the consequences of this could be dire, especially as home heat costs are expected to reach their highest level in over 10 years.
Yahoo Finance
This doesn’t bode well for utility stocks so while we have a few on our watch list, we won’t be buying utility stocks any time soon but when the panic sets in and everyone sells off we will be ready to pounce.
In a future post, we’ll give everyone our top utility picks but in the meantime stay tuned and stay solvent.