‘They don’t want to be a commodity provider any longer’
Utilities have operated more or less the same since the electrification of American cities began more than a century ago. Americans run their lights and appliances, the utility company sends a bill for the electricity consumed and customers send in a check.
But major changes in the energy industry—driven by everything from technological advances to environmental regulation—have uprooted the business model of electric utility companies across the globe. Customers can now create and store their own power thanks to solar panels and batteries, while government incentives encourage utility companies to help customers use less electricity—the very product utilities are selling.
Read the full story. (Time Magazine)