Power use drops in the United States
- A recent drop in the use of electricity in the United States has utilities concerned.
Utility companies rely on an annual growth of about 1 percent to 2 percent in electricity consumption for their businesses. However, recent trends have shown a decrease, the Virginian-Pilot reported.
Decreasing consumption could change how utilities operate and their plans for the future.
Utilities are expected to invest $1.5 trillion to $2 trillion by 2030 to modernize their systems and meet future demand, according to an industry-funded study by the Brattle Group. If electricity demand continues to decline, however, utilities would be forced to make significant adjustments in their investment plans or build too much capacity.
Related News
Here are 3 ways to find out where your electricity comes from
NEW YORK - There are few resources more important than energy. Sure, you may die if you don't eat for days. But your phone will die if you go too long without charging it. Energy feeds tech, the internet, city infrastructure, refrigerators, lights. You get the idea. Yet unlike our other common needs, such as food, energy sources aren't exactly front of mind for most people.
"I think a lot of people don't put a lot of bandwidth into thinking about this part of their lives," said Richard McMahon, the SVP of energy supply and finance at Edison Electric Institute, a…
