Energy Efficiency Hurts Utilities’ Profits

The Commonwealthmen

In a story that quietly emerged over the weekend, the headline reported,

Savers Push $374 Billion U.S. Utility Industry to Shift

The gist of the story is this: Households are become smarter about their energy consumption, finding ways of reducing energy usage primarily through new technologies. This, we thought, was a good thing.

Not so: The utility companies are now wringing their hands as they watch their sales and profits drop. Households are saving too much energy.

My natural, sarcastic reaction would be, “Boo hoo.”

But wait. The utilities are planning to take revenge on our energy savings. Buried in the middle of the story was this:

Angie Storozynski, a New York City-based analyst for Macquarie Capital USA Inc., predicted long-term load growth will be even lower, about 0.6 percent, in a Sept. 11 note to clients.

“Slow load growth should hurt near-term earnings,” Storozynski wrote. “It may drive utilities…

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