Modernizing the power grid is urgent, but the price tag is hitting customers fast. (Utility Dive)
Utilities spent nearly $150 billion last year on grid infrastructure, with more coming as electricity demand grows fivefold by 2029. Meanwhile, electricity prices rose 4.5%, almost twice the inflation rate.
States like Michigan and Rhode Island are testing new rules, metrics, and “business case” approvals to ensure investments improve reliability without sticking ratepayers with unnecessary costs.