Shares of power-plant operators recouped some of their recent losses as investors shifted their focus from the interest-rate outlook to growth prospects.
Electric-vehicle power consumption could be a key driver of demand for utilities in the coming years, according to one brokerage. "By 2040, EVs are estimated to represent about 27% of incremental demand growth in the United States," said analysts at brokerage Morgan Stanley, in a research note. "We believe this creates attractive and sizeable opportunities for electric utilities to invest in the required associated charging infrastructure and grid modernization to support the widespread development of EVs."
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Californian utilities such as Edison International and PG&E are ideally placed to participate in this trend.
Rob Curran, email@example.com
(END) Dow Jones Newswires
October 04, 2017 17:23 ET (21:23 GMT)