Electric Vehicles Offer No Support for Slowing U.S. Electricity Demand Growth
We are reaffirming our fair value estimates, moat ratings, and moat trends for all utilities after developing a fundamental forecast for electric vehicle growth in the United States through 2025. We continue to believe battery electric vehicles will have an immaterial impact on our 1.25% annualized U.S. electricity demand growth forecast through 2030.We assume U.S. EVs grow from an estimated 134,000 in 2016 to 1.6 million by 2025, representing about 10% of the U.S. automobile fleet. We assume ...
AES is a holding company. Through its subsidiaries, the company operates a portfolio of electricity generation and distribution businesses. The first business line is generation, where the company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The second business line is utilities, where the company owns and/or operates utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the residential, commercial, industrial and governmental sectors within a defined service area. In certain circumstances, the company's utilities also generates and sells electricity on the wholesale market.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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