CURRENT AFFAIRS

Detailed explanation-1: -Utilities expense is the cost incurred by using utilities such as electricity, water, waste disposal, heating, and sewage. The expenses are incurred over the course of the reporting period, calculated, and accrued for, or payment is rendered.

Detailed explanation-2: -Suppliers buy energy from the wholesale market and then sell it to domestic and business energy customers. When wholesale prices go up, energy suppliers increase their rates to cover the extra costs and we’re all hit with higher energy bills.

Detailed explanation-3: -The February 2023 Report uses the U.S. Energy Information Administration’s data from November to show that Utah residents paid the lowest electricity bills in the country on average. On the other side, Hawaii residents paid the highest electricity bills of any state.

Detailed explanation-4: -The utilities sector is part of the trade, transportation, and utilities supersector. The Utilities sector comprises establishments engaged in the provision of the following utility services: electric power, natural gas, steam supply, water supply, and sewage removal.