Nearly one in 20 households are at risk of having their utility debt sent to collections heading into the winter months, according to a recent report.<\/p>\n
The number of households with severely overdue utility debt rose by 3.8% in the first six months of Trump’s second term, the analysis of consumer credit data, compiled by the Century Foundation and Protect Borrowers, found.<\/p>\n
Residential energy bills have emerged as a key cost-of-living concern among American consumers, as many buckle under the weight of rising prices and sour on US President Donald Trump’s handling of the economy.<\/p>\n
Official economic data from November shows electricity prices rose 6.9% from the year before – much faster than overall inflation<\/a>.<\/p>\n Trump, who during his campaign said he would cut energy bills in half, has claimed that costs are falling. “Costs under the TRUMP ADMINISTRATION are tumbling down, helped greatly by gasoline and ENERGY,” he posted on social media in November.<\/p>\n The White House blames former President Joe Biden and US central bank interest rates for the lingering economic pain.<\/p>\n But in the wake of Democratic wins in recent state and city elections and polls showing waning consumer confidence, the Trump administration has shifted its messaging<\/a> to focus on affordability, in a bid to allay voter anxiety about the cost of living in the US.<\/p>\n At the same time, the federal government has proposed slashing the funds it gives to states to help low-income residents pay their utility bills.<\/p>\n