Report
Charles Fishman
EUR 103.64 For Business Accounts Only

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 ...
Underlying
NiSource Inc

NiSource is an energy holding company. Through its subsidiaries, the company is a natural gas distribution company. The company's reportable segments are: Gas Distribution Operations and Electric Operations. For its gas distribution operations, through its wholly-owned subsidiary, NiSource Gas Distribution Group, Inc., the company owns distribution subsidiaries that provide natural gas to residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland and Massachusetts. Through its electric operations, the company generates, transmits and distributes electricity through its subsidiary, Northern Indiana Public Service Company LLC, and engages in wholesale and transmission transactions.

Provider
Morningstar
Morningstar

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.

Analysts
Charles Fishman

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