M II A II R II K
Mar 25, 2012, 10:25 PM
California To Build A $100M Electric Car Charging Network
3/23/2012
By Ucilia Wang
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Read More: http://www.forbes.com/sites/uciliawang/2012/03/23/california-to-build-a-100m-electric-car-charging-network/
California announced Friday it has reached a $120 million settlement with NRG Energy over power contracts that contributed to the state’s energy crisis a decade ago, and it plans to use most of the money for building a network of electric car charging stations. The state plans to use $100 million of the settlement for the charging station network in regions such as the San Francisco Bay Area, San Joaquin Valley, Los Angeles and San Diego. The remaining $20 million will go to programs for lowering electricity costs for consumers.
- The settlement will benefit NRG, which has gotten into the electric car charging station business and branded it eVgo. The company will be building the $100 million charging network over the next four years, NRG said. NRG was a co-owner of power plants with Dynegy during the California energy crisis a decade ago that saw rolling blackouts and the subsequent ouster of then Gov. Gray Davis by Arnold Schwarzenegger. Price manipulations by power producers such as Enron who shut down power plants to jack up what they could charge California utilities led to the crisis. California sued Dynegy, and NRG later bought out Dynegy’s share in the power plants.
- Besides announcing the $120 million settlement, Gov. Jerry Brown also said he’s signed an executive order laying out goals that include putting 1.5 million zero-emission vehicles on the road by 2025. He wants state agencies to plan and simplify the permitting processes to encourage manufacturing and driving of zero-emission cars. His plan could help many tech companies in California, which is home to several young electric car makers such as Tesla Motors, Fisker Automotive and Coda Automotive. Electric car charger makers such as Coulomb Technologies and ClipperCreek also are based in California. Building a charging network has always been seen as a must to promote electric car driving.
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3/23/2012
By Ucilia Wang
http://images.forbes.com/media/assets/header_baked/forbes_logo_main.gif
Read More: http://www.forbes.com/sites/uciliawang/2012/03/23/california-to-build-a-100m-electric-car-charging-network/
California announced Friday it has reached a $120 million settlement with NRG Energy over power contracts that contributed to the state’s energy crisis a decade ago, and it plans to use most of the money for building a network of electric car charging stations. The state plans to use $100 million of the settlement for the charging station network in regions such as the San Francisco Bay Area, San Joaquin Valley, Los Angeles and San Diego. The remaining $20 million will go to programs for lowering electricity costs for consumers.
- The settlement will benefit NRG, which has gotten into the electric car charging station business and branded it eVgo. The company will be building the $100 million charging network over the next four years, NRG said. NRG was a co-owner of power plants with Dynegy during the California energy crisis a decade ago that saw rolling blackouts and the subsequent ouster of then Gov. Gray Davis by Arnold Schwarzenegger. Price manipulations by power producers such as Enron who shut down power plants to jack up what they could charge California utilities led to the crisis. California sued Dynegy, and NRG later bought out Dynegy’s share in the power plants.
- Besides announcing the $120 million settlement, Gov. Jerry Brown also said he’s signed an executive order laying out goals that include putting 1.5 million zero-emission vehicles on the road by 2025. He wants state agencies to plan and simplify the permitting processes to encourage manufacturing and driving of zero-emission cars. His plan could help many tech companies in California, which is home to several young electric car makers such as Tesla Motors, Fisker Automotive and Coda Automotive. Electric car charger makers such as Coulomb Technologies and ClipperCreek also are based in California. Building a charging network has always been seen as a must to promote electric car driving.
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