Amid the record-breaking heat in the United States and a power outage crisis in California, electric power companies Sempra (SRE) and PG&E (PCG) and Tesla (TSLA), a solar roof and battery manufacturer, are also drawing attention.
According to Market Watch on the 7th (local time), the power generation capacity in California is 47,705 megawatts, but the peak demand reached 51,183 megawatts in the afternoon on this day, and it is facing a blackout crisis.
About two-thirds of California's electricity production comes from traditional power sources such as natural gas, nuclear power and a small amount of coal, while the other third is mostly from solar and wind. In the United States, in particular, the dependence on alternative energy such as solar power and wind power is high.
Accordingly, along with traditional electric power companies, solar-related companies are also attracting attention.
The largest utilities in California are Edison Southern California, owned by PG&E (PCG) and Edison International (EIX), and San Diego Gas & Electric, owned by Sempra Energy (SRE).
Sempra and PG&E stocks have risen 27% and 1%, respectively, this year as buyers flocked to buy back due to increased profits from rising oil prices and dividends. Edison stock fell about 3%.
Earnings estimates for backup power solutions provider Generac (GNRC) are also rising.
Tesla is also considered one of the stocks that will receive attention during the California blackout crisis. Along with electric vehicles, Tesla produces solar roofs and battery storage products for homes and utilities.
Demand in this area is expected to increase due to the power outage crisis in California, which favors solar power, and demand for Tesla's solar roof and energy storage battery products is expected to increase.
Tesla CEO Elon Musk also tweeted the day before that he needed more solar power with battery storage to handle the peak power demand California is experiencing.
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