The Utility Business Model: Evolution or Revolution?

September 22, 2014 7:00pm-9:00pm, The WNYC Jerome L. Greene Performance Space, 44 Charlton Street, NYC

This event is the third event of a special series that Clean Energy Connections is doing on The Grid Edge.

As residential consumers take increasingly active stances toward energy management and generation, fundamental assumptions of the electric utility model are being challenged. Power providers counting on load growth and guaranteed rates of return for consistent financial returns now face disruption from the rapid expansion of residential solar, storage, and new financial innovations. GTM Research has shown that distributed PV nearly halved electricity demand growth in California, Massachusetts, and New Jersey in 2013. In another few years, New York may face a similar situation.

Lost profits and the threat to shareholder value and pensions are serious concerns, but are only the tip of the iceberg. Tying utility revenue to kilowatt-hours sold has resulted in an oversized power grid and lagging incentives for demand response, energy efficiency, and distributed generation. NRG CEO David Crane has suggested a scenario in which “the grid is, at best, an antiquated backup system to a different way of buying electricity.”

Several state regulators have taken steps toward remaking the utility business model to address these issues. New York policymakers, at the forefront of these efforts, recently launched an overhaul of electricity regulation in the state with the goal of increasing efficiency, resource diversity, and resiliency. This panel will examine emerging challenges and opportunities as utilities in NY and around the country evolve to meet the needs of a next-generation power system, develop services that offer their customers more choice, and deliver increased value to their shareholders.

The Thought Process Behind REV Explained

Audrey Zibelman, Chair at the New York Department of Public Service explains the thought process behind REV. This clip is from The Utility Business Model: Evolution or Revolution?, which is part of the Clean Energy Connections event series (cleanecnyc.org/). This event aired on September 22, 2014

How Do We Change The Way Utilities Operate?

Katherine Hamilton, Principal at 38 North Solutions, Sergej Mahnovski, Director of the Utility of the Future Team at Con Edison, and Audrey Zibelman, Chair at the New York Department of Public Service, discuss how utilities are changing the way they do business. This clip is from The Utility Business Model: Evolution or Revolution?, which is […]

In Support of Markets & Innovators

Katherine Hamilton, Principal at 38 North Solutions and Audrey Zibelman, Chair at the New York Department of Public Service, discuss the role of markets, innovators, utilities and regulators. This clip is from The Utility Business Model: Evolution or Revolution?, which is part of the Clean Energy Connections event series (cleanecnyc.org/). This event aired on September […]

What Can Other States Learn From REV

Audrey Zibelman, Chair at the New York Department of Public Service and Sergej Mahnovski, Director of the Utility of the Future Team at Con Edison, discuss how other states can look to New York for inspiration. This clip is from The Utility Business Model: Evolution or Revolution?, which is part of the Clean Energy Connections […]

Full Livestream for “The Utility Business Model”

Watch the full event video from “The Utility Business Model: Evolution or Revolution?” Originally broadcast on Monday, September 22, 2014. As residential consumers take increasingly active stances toward energy management and generation, fundamental assumptions of the electric utility model are being challenged. Power providers counting on load growth and guaranteed rates of return for consistent financial […]

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