FEMA Commits Additional $3.2 Billion Toward Utility, Road Paving and Education Projects in the U.S. Virgin Islands
FEMA Commits Additional $3.2 Billion Toward Utility, Road Paving and Education Projects in the U.S. Virgin Islands ST. CROIX, U.S. Virgin Islands – The recent obligation of $3.2 billion toward projects to rebuild the potable water distribution system and repave roads across St. Croix and replace the utility’s metering infrastructure in the U.S. Virgin Islands, highlights FEMA’s continued partnership with the Government of the Virgin Islands in strengthening critical infrastructure damaged during hurricanes Irma and Maria in September 2017. The St. Croix island-wide potable water distribution system replacement project with a FEMA obligation of $1.25 billion provides the Territory
Grid infrastructure investments drive increase in utility spending over last two decades
Annual spending by major utilities to produce and deliver electricity increased 12% from $287 billion in 2003 to $320 billion in 2023 as measured in real 2023 dollars, according to financial reports to the Federal Energy Regulatory Commission (FERC). Capital investment in electric infrastructure mostly drove the increase, more than doubling over the period as: