Thursday, November 7, 2013 14:01
More large corporations have decided that the electric power grid is unreliable and are planning to unplug from it and generate their own electricity.
The Wall Street Journal has confirmed a story that Off the Grid News previously reported – and the newspaper found the practice is even more widespread than previously thought.
Off The Grid News had reported that several large corporations, including Walmart, Safeway, Google, Bank of America and Coca-Cola, are spending hundreds of millions of dollars on systems to generate their own electricity. A Journal article indicates that many other large companies, too, are taking steps to generate their own electricity.
Electric companies are worried
The generation of electricity by private corporations has grown to such a level that it’s beginning to cause utility executives to worry, Journal reporters Rebecca Smith and Cassandra Sweet noted. They wrote: “The growing number of companies that are at least partially energy self-sufficient is sending a shudder through the utility industry, threatening its revenues and growth prospects.”
The two made the conclusion based on a report put out by the Edison Electric Institute. The Institute is a think tank for the electricity utility industry.