Why Google, Comcast, and AT&T Are Making Power Utilities Nervous
In a conference room with a sweeping, floor-to-ceiling view of the snow-capped Wasatch Mountains, Todd Pedersen, chief executive officer of Vivint, sips cold-pressed juice and explains how the home security company he founded in 1999 has gotten into the electricity business by plugging into rooftop solar and digital energy management. “It helps,” he says, “that we’re competing against an industry that isn’t particularly evolving.” Based in Provo, Utah, Vivint is in the vanguard of tech, cable, and phone companies, including Google, Comcast, and AT&T, that are challenging the 100-year-old regulated utility model. Their digital portals into millions of U.S. homes are becoming back doors to the roughly $400 billion retail power market.
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