Electric power utility9/19/2023 ![]() This means we are a full-service electric power company providing users (customers) with electric power generation, transmission, and distribution. TEPCO is in the General Electric Utility category. Mulkern, “ Climate bill, state mandates jump-start EVs’ future,” E&E News, August 18, 2022.ġ2Jane Nakano, “ IRA and the EV tax credits-can we kill multiple birds with one stone?,” Center for Strategic & International Studies (CSIS), September 15, 2022.Companies engaged in electric power business in Japan are classified as General Electric Utilities, Wholesale Electric Utilities, Independent Power Producers (IPP), Power Producers and Suppliers, and Specified Electric Utilities. Explore the five trends that will likely influence the direction of the industry over the next 12 months.ġUS Energy Information Administration (EIA), Electric Power Monthly, Table 5.1, “Sales of electricity to ultimate customers,” All sectors, October 25, 2022.ĢBoratha Tan, “ Facing extreme weather, states explore ways to improve energy resilience,” National Conference of State Legislatures, October 12, 2022.ĤSteven Rogers et al., Enabling the clean energy transition: Planning for next-generation advanced metering infrastructure and grid technologies, Deloitte, November 1, 2022.ĦUS Securities and Exchange Commission (SEC), “ SEC proposes rules to enhance and standardize climate-related disclosures for investors,” press release, March 21, 2022.ħJael Holzman and David Iaconangelo, “ US shift on child labor may scramble EV sector,” E&E News, October 5, 2022.ĨMatt McFarland, “ The next holy grail for EVs: Batteries free of nickel and cobalt,” CNN Business, June 1, 2022.ĩEmma Penrod, “ Growing scale, Inflation Reduction Act subsidies could push green hydrogen prices negative: RE+ panel,” Utility Dive, September 27, 2022.ġ0Dan Esposito and Hadley Tallackson, “ The Inflation Reduction Act upends hydrogen economics with opportunities, pitfalls,” Utility Dive, September 30, 2022.ġ1Anne C. ![]() Despite these challenges, new technologies and supportive policies could ripen opportunities in 2023 and help the industry achieve its goals. ![]() Inflation, high fuel costs, and supply chain snarls may keep electricity prices elevated, while extreme weather, cybersecurity threats, and the growth of variable renewables and distributed energy resources may continue to require innovative management to ensure grid reliability. But providing secure, reliable, affordable, and clean electricity could become even more challenging. In 2023, these promising developments will likely evolve further. 2 In response, the industry and policymakers worked to bolster reserves, deploy energy storage and microgrids, harden infrastructure, and strengthen flexible load options. Extreme climate events-from droughts to hurricanes, heat waves and wildfires-continued to test regional grid resilience. 1 But costs also spiked, largely due to natural gas prices more than doubling on global shortages exacerbated by Russia’s invasion of Ukraine. US electricity sales continued to rise as the pandemic recovery progressed, increasing 3.6% in the first eight months compared to the prior year. Electric power sector weighs promising trends amid cost and climate woesĢ022 was a year of perils and promise for the electric power sector.
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