The Utility Business Model; Evolution or Revolution?
Monday, September 22nd, 2014 7:00pm-9:00pm (Doors open at 6:30pm), The WNYC Jerome L. Greene Performance Space, 44 Charlton Street, NYC
FREE live stream hosted by Greentech Media starting at 7:05pm.
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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 discussion is a featured event of Solar One and NYC ACRE’s cleantech panel discussion series, Clean Energy Connections in partnership with Greentech Media. Follow our ongoing online discussion at tagboard.com/CleanNRGx
Jigar Shah, CEO, Jigar Shah Consulting
Stephen Lacey, Senior Editor, Greentech Media
Katherine Hamilton- Principal, 38 North Solutions
Sergej Mahnovski – Director, Utility of the Future Team at Con Edison
Audrey Zibelman - Chair, New York Department of Public Service
6:30 – 7:00 – Registration & Networking
7:00 – 8:30 – Panel Discussion
8:30 – 9:00 – Reception
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