BlackRock Is Now Buying Utility Companies
First They Destroyed The Housing Market, Utilities Are Next
Blackrock, the world's largest asset manager, has recently been making headlines for its purchases of utility companies. This trend has raised concerns about the potential harm it could cause to consumers and the overall energy market.
One concern is that Blackrock's acquisition of utility companies could lead to higher prices for consumers. As a major player in the financial industry, Blackrock has the resources to outbid smaller competitors for utility companies, potentially driving up the price of these acquisitions. This, in turn, could lead to higher prices for consumers, as the cost of these acquisitions is passed on to them through their monthly energy bills.
Another concern is that Blackrock's influence in the energy market could lead to a concentration of power in the hands of a few large companies. This could lead to less competition and choice for consumers, potentially resulting in lower quality service and higher prices.
There are also concerns about Blackrock's lack of transparency and accountability in its decision-making process. As a financial company rather than a utility provider, Blackrock may prioritize its own profits over the interests of consumers and the overall energy market.
In addition, Blackrock's involvement in the energy sector could also have negative impacts on the transition to renewable energy sources. As a major player in the industry, Blackrock's investment decisions could shape the direction of the energy market. If Blackrock prioritized profits over the transition to renewable energy, it could potentially hinder progress in this area.
Overall, Blackrock's acquisitions of utility companies have the potential to harm consumers and the energy market. It is important for regulators and lawmakers to closely monitor these developments and ensure that the interests of consumers and the transition to renewable energy are prioritized.
"It is important for regulators and lawmakers to closely monitor these developments and ensure that the interests of consumers and the transition to renewable energy are prioritized."
These are two diametrically opposed goals. Consumers are interested in affordable and reliable energy. So-called "Renewable Energy" is expensive and unreliable. Why were there just rolling blackouts in Tennessee last weekend? Because the TVA killed off a bunch of its coal plants. Why did the grid in Texas fail in 2021? Frozen wind turbines, snow-covered solar farms, and the lunacy of having converted natgas compressor stations from being self-powered by natgas turbines to electric motor driven compressors. Why are electricity prices skyrocketing? Because renewable sources are intrinsically unreliable and if you want a reliable grid, they have to have backup sources, meaning you pay for every MW of generating capacity twice. But you'll probably get your wish because Blackrock is unlikely to push for cheap, reliable energy; they love ESG.