Things might be cooling down outside, but for many Americans, those utility bills are still through the roof! ⚡💰 You might think that the sky-high prices are due to inflation or using the AC a little too much, but there could be a secret third thing. 🫣
Buried deep in your utility bill, companies may boost costs to pay for some non-utility funny business. 🕵️
Here’s Five Fast Facts on what you could be paying for in your utility bill:
- 💸 Just Passing Through - Utility companies often pass along the costs of certain expenses to customers. What kind of costs are we talking about? Everything from lobbying efforts to bribes to politicians. Yikes!
- 👀 Creeping Costs - Most customers don’t notice these extra costs because it may only amount to a couple of extra bucks a month. However, these nickels and dimes add up. Plus, many Americans are already behind on their utility bills. By the end of this year, an estimated 3.5 million households will experience a shut-off.
- 🏌️ Fore! - Utility companies pass the cost of memberships to clubs and organizations to customers. Yep, even country clubs. They say they use those opportunities to network and build beneficial relationships. However, critics say some groups might really lobby for higher rates or vote “no” on customer-friendly initiatives.
- 🙀 Cam-pain Trail - Additionally, utilities may also send customer dollars to nonprofit organizations used for lobbying and political activity. That might seem like a good idea if the lobbying is pro-customer, but it’s murky. Money could also go towards supporting or opposing a political candidate.
- 🛑 Stop Right Now, Thank You Very Much - Some states have laws in place to hold utilities accountable and stop passing political-related costs to customers. Right now, Colorado, Connecticut, and Maine have legislation on the books. These 11 states are considering it, too: Arizona, California, Illinois, Maryland, Minnesota, New York, Ohio, Pennsylvania, Rhode Island, Utah, and Virginia.
🔥Bottom line: Sheesh, all we want from our utility providers is a comfortable household temp and working lights. We pay for electricity and gas, not political fluff! While we’re talking about rising costs, you should get a load of the cost of senior living. Check out our take on that here!
Have your utility bills gone up this year?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
