As electricity bills surge, New Yorkers find themselves grappling with financial strain like never before.
According to Payless Power’s recent survey of 1,000 Americans, households in New York are facing significant financial burdens, with an average of $766 in credit card debt attributed to rising utility expenses.
While Texas may boast about its size, New York shares the burden of exorbitant electricity bills, particularly during extreme weather seasons. Compared to Texas and California households, New Yorkers are 21% less likely to endure the heat of high electric bills.
The survey also highlights concerning trends in bill payments, with one-third of Americans admitting to missing at least one electric bill payment in the past year, leaving 14% with unpaid bills looming overhead.
Financial strain extends beyond wallets, as over a quarter of respondents report household members taking on additional work to make ends meet. More than half of those surveyed express ongoing struggles to manage electric bills during peak usage months.
The bottom line: New Yorkers are buckling under the weight of escalating electricity costs, prompting calls for action from authorities to alleviate the burden and ensure households can afford to keep the lights on without draining their bank accounts.
