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Analysis: Oil price war increases power utilities' uncertainty over EV infrastructure plans

Jonathan Jacobs, energy and utilities expert at PA Consulting, comments on electric vehicle infrastructure legislation in the US.

Read the full S&P Platts article here

The article reports that as states such as Florida adopt electric vehicle infrastructure legislation, electric utilities face uncertainty about how much power demand could be affected, in light of the recent crash in oil prices.

On Wednesday, Florida's House of Representatives approved Senate Bill 7018, "Essential State Infrastructure" for the signature of Governor Ron DeSantis. The bill directs the state Department of Transportation to "recommend a master plan for the development of electric vehicle charging station infrastructure along the State Highway System" by July 1, 2021, in consultation with the Public Service Commission and the state Office of Energy.

Goals of the plan include identifying types of possible locations of EV charging stations to support both short- and long-range travel, expand EV use and serve evacuation routes. As of the end of June 2019, Florida had the seventh-largest total of battery EVs registered since 2011, according to Auto Alliance, the US automakers' trade group.

Jon said, "I think that near-term oil price fluctuations will not affect the long-term trends toward vehicle electrification and the need for more judicious usage of fossil fuels."

He adds: "Oil prices have been relatively stable in the United States for a number of years yet support for transportation electrification, sales of EVs, announcements of new models and development of charging networks have all increased."

Driving into a low emissions future: How can car makers look beyond 2021

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