JPMorgan Sees US Grid Failures Hitting Poorest Families Hardest

America’s aging grid infrastructure is disproportionately hurting the country’s most vulnerable citizens, according to JPMorgan Chase & Co.

“When new generation and transmission take years longer than necessary to connect, it adds further strain to a system already under stress,” Heather Zichal, the bank’s global head of sustainability, and Michael Johnson, its security and resiliency initiative lead for energy and the US government, said in a note to clients seen by Bloomberg.

The costs of such delays “land hardest on the families least able to absorb them,” they said.

JPMorgan is stepping up its warnings on risks associated with ...