THE POWER GRID’S LOOMING FAILURE

Why the U.S. Power Grid's Days Are Numbered

Chris Martin, Mark Chediak, and Ken Wells, August 22, 2013 (Bloomberg BusinessWeek)

“There are 3,200 utilities that make up the U.S. electrical grid, the largest machine in the world. These power companies sell $400 billion worth of electricity a year, mostly derived from burning fossil fuels in centralized stations and distributed over 2.7 million miles of power lines. Regulators set rates; utilities get guaranteed returns; investors get sure-thing dividends. It’s a model that hasn’t changed much since Thomas Edison invented the light bulb. And it’s doomed to obsolescence…[according to] David Crane, chief executive officer of NRG Energy, a wholesale power company…What’s afoot is a confluence of green energy and computer technology, deregulation, cheap natural gas, and political pressure…” click here for more

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