Economic woes have apparently led many people to put off paying their utility bills, so the power companies are demanding their money and shutting off customers’ power when they fail to fork over the dough. (Wait a minute, did we pay our electric bill? We did. Phew.) As if losing money in the stock market wasn’t bad enough, now poor customers are losing their power as well.
WSJ: Utilities are becoming more aggressive about collecting money from delinquent customers, leading to a surge in service shutdowns just as economic woes are pushing up the number of households falling behind on bills.
The utilities say they are under pressure to clean out accounts that are weighing down their books at a time when their stocks are being hammered and earnings growth has slowed.
Meanwhile, the increasing number of homes left without power — which could rise as economic pain deepens — is beginning to worry some consumer advocates and regulators…
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