A Virginia supermarket that has served local communities for nearly a quarter century said it is shutting its doors after utility bills at the location averaged more than $25,000 a month.
Grants Supermarket said its Richlands store, which has served Richlands, Doran and surrounding communities for almost 25 years, will close at the end of business Saturday as its lease expires and rising operating costs led the company not to renew it.
“Over the past two years, the utility bill for this location alone has averaged more than $25,000 per month,” the company said.
“Like many families and businesses throughout our community, we have struggled with increasing utility expenses,” the statement added.
The closure comes as utility prices have climbed faster than overall inflation across several major categories nationwide.
US household electricity prices were 44.7% higher in August than they were a decade earlier, while utility-piped natural gas surged 61.8% and the combined cost of water, sewer and trash collection rose 50.3%.
Overall consumer prices rose 39.1% over the same period.
Electricity prices have risen particularly sharply since 2021, jumping 35.3% from August 2021 through August 2026 — a 10.5% increase even after adjusting for overall inflation.
Natural gas rose 31.8% over the same five-year stretch, while water, sewer and trash costs increased 27.3%.
Virginia’s statewide electricity data show a more modest increase through 2024, though the figures predate significant 2025 and 2026 rate actions.
Electricity prices have risen particularly sharply since 2021, jumping 35.3% from August 2021 through August 2026 — a 10.5% increase even after adjusting for overall inflation.
Natural gas rose 31.8% over the same five-year stretch, while water, sewer and trash costs increased 27.3%.
Virginia’s statewide electricity data show a more modest increase through 2024, though the figures predate significant 2025 and 2026 rate actions.
The state’s average retail electricity price across residential, commercial and industrial customers climbed to 10.62 cents per kilowatt-hour in 2024 from 9.16 cents in 2020 — a 15.9% increase, according to Energy Information Administration data.
Grants Supermarket did not blame any single utility or rate increase in announcing the closure, instead pointing to the cumulative burden of its operating expenses as its lease comes up for renewal.
“This is an incredibly difficult decision and one we did not make lightly,” the company said.
The grocer also thanked its current and former employees and the customers who supported the location for almost 25 years.
“Closing a store after nearly a quarter century is never easy,” the company said. “We leave with tremendous gratitude for the relationships, friendships and memories that have been created here.”
The Post has sought comment from the store owners.
Credit: Source link
