A profile of the electric power industry: facing the challenges of the 21st century
In: Industry profiles collection
The electric power industry was traditionally a utility to which people gave little thought. It had stable prices, low business risk, and predictable emerging issues. Great change has shaken the industry. Mergers have resulted in large and powerful companies. Natural gas prices have plummeted and gas is replacing coal as the basis for both electricity production and new capacity. Environmental regulation is in flux. And new technologies are transforming all parts of the industry's value chain. The high cost and new skills demanded by these technologies give rise to unprecedented financial risk.