(Bloomberg) — Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes.

The report, released Tuesday by the Energy Department, recommends investments in the electric grid to protect it from the severe storms that may be occurring more frequently because of global warming, as well as from physical and cyber-attacks.

"Modernizing the electricity grid is critical," particularly given the threats presented by extreme weather, Energy Secretary Ernest Moniz said in an interview Monday with Bloomberg News reporters and editors in Washington.

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