Big Corporations Are Starting to Ditch Their Power Providers. A Sign of the Utility Death Spiral?
By Stephen Lacey May 26, 2016
The Energy Gang discusses MGM Grand’s decision to stop buying electricity from Nevada Power. The beginning of a scary trend for power providers?
Nevada Power is likely doing a lot of soul-searching.
Last week, two of the biggest Las Vegas casino companies — MGM Resorts and Wynn — filed to leave Nevada Power and set off to buy wholesale electricity on their own. MGM has particularly strong renewable energy goals, and the company thinks it can procure clean electrons cheaper than can the utility.
As more large corporations make similar moves, will it lead to a financial disaster for utilities? On this week’s podcast, we’ll discuss the implications with Cory Honeyman, the associate director of GTM’s U.S. solar research practice, who has been following the commercial customer class closely.
Then, Exxon rejected shareholder demands on climate again this week. We’ll look at the latest salvo over the oil giant’s carbon accounting. And we will end on a low note. Lake Mead, America’s biggest reservoir, serving over 20 million people in the West, hit its lowest level ever. Are water wars on the horizon?
Don’t forget to check out our live show at the Grid Edge World Forum. Any new registrants get a 10 percent discount through the podcast. Just use the promo code ENERGYGANG while checking out to get your listener discount.