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This is due to the drasticallyrising costof power supply materials.
The report said that bills could up by 30%, but it really depends on the state.
Prices could be more or less depending on how resources are looking come summer.
A dramatic price increase on an essential like utilities could be dire for many Americans budgets.
Heres what experts said could happen andhow to prepare for potential price hikes.
Where Would Americans Cut Spending?
It goes without saying that discretionary spending would have to decrease for families to afford their heightened utility bills.
Families would start skipping preventative medical care.
Theyd put off repairs on the only car they own.
It would create a slow-moving financial emergency that builds month after month, he said.
The rebates paired with the lower energy bills will help get budgets back on track.
Additionally, Crawford recommended seeing if residents are in a state that offers the High-Efficiency Electric Home Rebate Program.
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