Time for Electric Utilities to Grab Oil’s Share of the Transportation Market?
There’ve been scattered predictions of an impending death spiral for power utilities, as renewable generation stirs up traditional markets. In this post for Greentech Media, energy strategy advisor Elias Hinckley says utilities can save themselves by winning away the share of the transportation market now supplied by gasoline and diesel. “Within the past few years, a technological transformation has occurred in the electric vehicle sector. The possibility of a utility taking a piece of the oil companies’ market share is becoming much more likely,” writes Hinckley, an energy and tax partner with the law firm of Sullivan and Worcester LLP. The introduction of electric vehicles faces challenges, but “electric utilities are perfectly positioned to manage the infrastructure needs and to accelerate understanding and acceptance of EV technology.”