5 companies that plan to put utilities out of business
Quick Take: Bloomberg is out with an article detailing the many tech startups that are casting a "covetous eye on the utility industry's customers and revenue." To siphon off that revenue, they plan to take advantage of the portals they have into tens of millions of homes. Below you will find summaries of five examples, or read the full article at Bloomberg.com.
As you read about these five large, well-known examples remember that there are hundreds of smaller examples around the world. - Jesse Berst
"The battleground over the next five years in electricity will be at the house,” said David Crane, CEO of NRG Energy Inc. (NRG) to Bloomberg. NRG is America's largest independent power producer. "When we think of who our competitors or partners will be, it will be the Googles, Comcasts, AT&Ts who are already inside the meter. We aren’t worried about the utilities because they have no clue how to get beyond the meter, to be inside the house."
Peter Hebert, co-founder and managing partner of venture capital firm Lux Capital, sees "a proliferation of smaller startups all targeting this market.” In alphabetical order, here are some of the companies mentioned that are stealing away some utility business. And that plan to steal a lot more.