NEW YORK - The cost of weather-related power outages is rising as storms grow more severe and the U.S. electric grid gets older, according to an Obama Administration report, which calls for increased spending on the nation's electric power system.
Power outages cost $18 billion to $33 billion per year, according to the report, a figure that has been rising steadily over the past 20 years. That can rise to $40 billion to $75 billion in years with severe storms such as 2008's Hurricane Ike and last year's Superstorm Sandy, the latter of which knocked out power to hundreds of thousands of people, some for as long as a week or more.
The White House report said spending to make the grid stronger and more flexible will save the economy billions.
Thunderstorms, hurricanes, blizzards and other extreme weather caused 58 percent of all outages since 2002 and 87 percent of outages affecting 50,000 or more customers.
- Police review board says Charlotte shooting justified
- Egyptians unite against ISIS: 'Your terrorism brings us together'
- ISIS kills 33 execution-style in Syria
- Trump to astronaut: 'Better you than me' to drink urine
- Google's new VR camera has 17 lenses and costs $18,000
- Trump voters split over accomplishments as 100 day mark nears
- Updated Former congressional aide must register as sex offender
- Updated Dorney sworn in as new Allentown police chief
- Updated Judge refuses competency hearing for police ambush killer
- Small earthquake rattles parts of Pennsylvania
- Updated Northampton man accused of choking girlfriend unconscious
- Mango tells Republicans he'll seek gubernatorial nomination
- Police arrest third man allegedly tied to drug deal assault
- Updated Mostly cloudy with a bit of rain this afternoon; rain continues through early Wednesday
- Street closures scheduled for downtown Allentown this week
- Pet owners learn animal CPR to help their furry friends