The utility’s role is changing, and regulation must change along with it – to spur innovation and respond to evolving customer needs. Modernizing the industry will require a dynamic approach.
A land rush in the burgeoning home energy management market.
“Utilities are thinking about this with blinders on,” she says. “They say, ‘Oh, we’ll offer a special rate for overnight charging.’” But a minor tweak to a regulated tariff isn’t a properly functioning market, Kiesling says, and it won’t be tolerated by customers who bring their own experience of the nexus of technology and commerce to the table.
“The younger generation of consumers, the people who have grown up buying and selling on craigslist and eBay, aren’t going to stand for that,” she says. “I’m waiting for the revolution to start. It’s been slow in coming, but I think the PEV is going to catalyze it. It will enable consumers to do the end run around the utility.”