Paycheck-to-paycheck living increased from 52 percent in April 2013 to 61 percent of US consumers in April. Of those making $250 000 or more, 36% were also having financial difficulties. On June 11, the national average price of gasoline surpassed the $5 per gallon threshold for the first time. Early in June, President Joe Biden approved a 24-month tax reprieve for solar panel imports from Thailand, Malaysia, Cambodia, and Vietnam. If domestic manufacturing gains traction, a consortium of renewable energy companies committed to purchasing $6 billion worth of solar panels over the following four years. During periods of greater market volatility, utility equities frequently outperform. If authorities allowed it, these businesses can pass on the cost increase to their customers. Having these equities also increases their allure during a recession.
Insider Monkey highlighted some of the most stable electric utility stocks. Across the states of Minnesota, Iowa, and Wisconsin, Alliant Energy Corporation provides electricity and natural gas to millions of retail, wholesale, and industrial customers. The company’s dividend has increased for 18 years in a row, and its 2.95 percent yield is respectable. One of the best electric utility stocks to buy right now is Sempra. Through its subsidiaries, the corporation offers gas and electricity throughout California and Texas. Sempra is also interested in the significant US LNG market. One of the biggest utilities in the country is CenterPoint Energy, Inc. Its yield as of June 27 is 2.35 percent. The value of the company’s shares has increased by 4.1 percent over the past six months and by 17.7 percent over the past year. In New York City and the surrounding Westchester County region, Consolidated Edison, Inc. provides electricity, natural gas, and steam to residential, commercial, industrial, and government customers. In addition, the business has increased dividend payouts for 47 straight years. More than half of the energy produced by CMS Energy Corporation comes from green sources. CMS Energy Corporation said it would buy 300 MW of clean energy as part of its strategy to stop using coal by 2025 and become carbon-neutral by 2040. For more details, click the 10 Best Electric Utility Stocks To Invest In.