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US utilities shut off power to millions amid record corporate profits – report

US utilities shut off power to millions amid record corporate profits – report

Largest utilities spent billions on stock buybacks, dividend payments to shareholders and executive salaries, analysis findsSome of America’s largest utilities cut power to millions of struggling customers in recent years even as they spent billions of dollars on stock buybacks, dividend payments to shareholders and executive salaries, a new analysis of industry data has found.The report also reveals that companies could use just a tiny fraction of their investor and executive spending to forgive debt at all households where power was cut.

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