Your’e Fired


The energy sector faces profound change, according to Jim Rogers, who has stepped down as chairman of Duke Energy.

Rogers: There’s going to be a continuing battle between central and distributed generation. If we have to retire every nuclear plant and most coal-fired plants by 2050, that’s going to translate into significant cost increases to replace them. If we don’t build more nuclear, it’s going to have a significant impact on our carbon footprint because 70 percent of our carbon-free electricity today comes from nuclear. There will be companies in the industry putting solar on rooftops, deploying energy-saving technologies within the home and supplying 40 percent or more of the electricity utilities historically provided to that home. You’ll see the development of a significant number of microgrids that will protect the grid against cyber-attack.

Rogers:If I was coming into the industry again, I would come into the industry as David Crane. Maybe I should take that back. I would come into the industry as someone who is an attacker, not a defender. I’d want the solar on the rooftop. I’d want to run that. I’d want the ability to deploy new technologies that lead to productivity gains to the use of electricity in homes and businesses. I would go after the monopoly that I see weakened over the last 25 years.  My goal would be to take customers away from utilities as fast as I could, because I think they’re vulnerable. Regulations will not be changed fast enough to protect them.  The business model will not be changed fast enough.

Rogers: Every decision we make today we make with the knowledge that there will someday be carbon regulation in this country. There will be a price on carbon. And since we make decisions for 30, 40 and 60 years, we need to take that into account. Our industry needs to lead on environmental issues. We need to lead on productivity gains in the use of electricity. That’s a critical way for us to continue to reinvent ourselves as an industry.


When the outgoing CEO of America’s largest utility says the current business model is dead, it’s time to pay attention.


Maybe he was also confirming that currently profits come from tax subsidies and not real income growth. It looks like the game has changed. Goldman Sachs certainly thinks so.


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About isabellew9873

My name is Isabelle Whitehead. I was a member of the Bolton School group on the Operation Wallacea 2015 expedition to Peru.

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