I'm packing to go to Kentucky - a real honest to god vacation with the family. It's been years. Anyway, the point is, I'm going to make this fast because I don't have much time...
The business model of US utilities is on the rocks. Bottom line: they're realizing we don't need them anymore. Or at least not for much longer.
Before you think that's the ramblings of some naive rust-belt native, consider this:
NRG Energy Inc. (NRG), the biggest power provider to U.S. utilities, has become a renegade in the $370 billion energy-distribution industry by providing electricity directly to consumers.Translation: Utilities can be cut out of the loop with current technology that makes distributed power systems ever more viable.
Bypassing its utility clients, NRG is installing solar panels on rooftops of homes and businesses and in the future will offer natural gas-fired generators to customers to kick in when the sun goes down, Chief Executive Officer David Crane said in an interview.
Here's what Duke Energy has to say about that
âIt is obviously a potential threat to us over the long term,â said Jim Rogers, chairman and chief executive officer of Duke Energy Corp. (DUK), the largest U.S. utility owner.The floodgates are just about to open.