I am receiving a bill for ICloud storage? Help me to understand what this is and what is it for?
What am I being billed for exactly? What is this $2.99 for?
Windows, Windows 6
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You automatically get 5GB of free iCloud storage.
It is possible to upgrade that storage to 50GB, 200GB or 2TB. The 200GB plan is $2.99 in the U.S. The upgrade doesn't happen automatically. If you want to downgrade back to the free level, see: Downgrade or cancel your iCloud storage plan - Apple Support
If you want to know how much storage you are currently using, see: Manage your iCloud storage - Apple Support
For information on the difference between storage on your device and iCloud storage, see: What's the difference between device storage and iCloud storage? - Apple Support