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S&P Global: Analysis: Oil Price War Increases Power Utilities' Uncertainty over EV Infrastructure Plans

Posted by Jeff Stanfield and Mark Watson on Mar 12, 2020

S&P Global covered the passage of Florida's EV infrastructure bill (as part of a larger piece on uncertainty around recent oil prices) quoting AEE's Dylan Reed. Read excerpts below and the entire S&P Global piece here. 

As states such as Florida adopt electric vehicle infrastructure legislation, electric utilities face uncertainty about how much power demand could be affected, in light of the recent crash in oil prices, analysts said Thursday. On Wednesday, Florida's GOP-controlled House of Representatives approved Senate Bill 7018, "Essential State Infrastructure" for the signature of Governor Ron DeSantis, a Republican. Support in both chambers was bipartisan.

The bill directs the state Department of Transportation to "recommend a master plan for the development of electric vehicle charging station infrastructure along the State Highway System" by July 1, 2021, in consultation with the Public Service Commission and the state Office of Energy. Goals of the plan include identifying types of possible locations of EV charging stations to support both short- and long-range travel, expand EV use and serve evacuation routes.

Dylan Reed, director with Advanced Energy Economy, a business group focused on secure, clean and affordable energy, on Thursday said, "Regulatory certainty for electric vehicle charging infrastructure will unlock investment in the state and make Florida a national leader on electrified transportation."

As of the end of June 2019, Florida had the seventh-largest total of battery EVs registered since 2011, according to Auto Alliance, the US automakers' trade group...

Read the entire S&P Global piece here. 

Topics: AEE In The News