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North American Power CEO Kerry Breitbart weighs in on electrical demand and the aging power grid.
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-- announcing -- and parts of Manhattan yesterday as the city entered its fourth heat wave at less than one month.
And electrical demand is been outstripping supply we're joined right now by North American power CEO -- bright part.
So up straight with this what we're seeing right now with -- with the power grid not some Manhattan but and other parts of the East Coast as well.
What we do to stop this from happening every year we face extreme temperatures.
Well you know there's a lot of challenges to the grid I mean in most places we have to remember that -- it's a fairly rare occurrence you know when we have you know that type of event.
A lot of times and this was is -- what happened in Texas it has to do were sustained temperatures without a lot of rain because the units you don't get to cool off in the evening.
And there's a lot of pressure on the actual you know wires.
But there's also generation issues you know there's issues of not having enough generation and -- -- to handle peak demand.
But not -- monsters a -- -- justices you know this is an uncommon occurrence.
Unfortunately -- populous areas I mean this is New York City where we've had you know wouldn't of blackouts in the past and -- university's history.
Just give up this as -- oversee the -- do you dynamic shift between.
Natural gas and coal for the first time in April we found out thanks to the IA.
That natural gas plants are extolling -- -- -- -- electricity.
As coal power plants first time in our nation's history we make of that and the -- that we're saying.
Well I think it has everything to do with the more efficient ways of aren't getting natural gas -- -- the ground.
You know -- -- -- supply of natural gas now is growing so dramatically.
And the cost relationship between coal and natural gas has come in line so much that you know when you -- the EPA restrictions.
On coal.
It makes no sense to build you know -- coal fired plants.
You know for example there's 200 natural gas plants on the drawing board there's fifteen coal plants you know and this is gonna continue.
But deep Vietnam that there are challenges obviously to the EPA we're waiting on another ruling as well I mean being in the emissions of that this -- Plans are throwing out the atmosphere and EPA's on that so that's another issue let me ask you this though you know overall because you've gotten kind of of the renewable -- with your business.
How are you find that you can actually save customers money without stressing -- -- Well.
You know -- -- via the industry that a man you know the the -- which is owing to the deregulation of electricity and is actually quite interesting I spent 25 years as an oil trader and broker.
And I don't think -- that 25 years I never did anything to save a consumer a panic I -- -- -- all of a sudden I find myself having a second career and an industry.
That and it's not getting a lot of press is saving consumers a fortune on their electric bill hot hot -- at.
Because we compete with the utilities and we compete very effectively on the supply side and the cost of natural gas has been going down.
Natural gas is the peak fuel to produce electricity.
So in the in the you know in the deregulated states in their -- government.
-- 55 million consumers twelve million of switched and they're saving money they're saving significant money.
-- -- call you one of the most promising companies out there and you haven't hiring in creating jobs absolutely.
What do you think we're gonna be in twenty years to think it's gonna be new clear think it's going to be Nat gas and mean cut into your crystal ball.
Pop pop pop pop.
-- I don't know how -- my crystal ball is but.
Nuclear.
Envoy it's hard to think it will be in their clearest and you know I mean a -- -- years to even get permits for -- plan up.
You know I think that we're going to see.
Tremendous changes in technology.
You know more efficient production of electricity.
I don't think this natural gas phenomenon you know the abundance of natural gas -- -- your Wear the period the greater ability to get on the ground know that's going anywhere any time soon.
Very -- -- the -- of North American power if you take for me thanks for coming on.
-- welcome -- thanks.
