Public safety power shutoffs (PSPS) have become a common practice among electrical companies in high-risk areas to mitigate wildfire threats, leading to extended power outages lasting days rather than a few hours. These planned shutoffs, though essential for safety, have significant economic repercussions, costing California billions and negatively impacting local businesses. The shift towards electronic payments, necessitated by modern society, further complicates matters during outages, increasing vulnerability and hindering economic stability in communities, emphasizing the importance of maintaining cash reserves during emergencies.
The increasing reliance on electronic payments in our society is making us less resilient to natural disasters, as many systems require electricity to function during emergencies.
Public safety power shutoffs (PSPS) are not just inconveniences; they can have devastating effects on local economies, as seen with a 2019 analysis in Placer County.
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