Federal Energy Regulatory Commission grants ‘market-based rate authority’ to Google’s newest subsidiary, appropriately named, Google Energy.
Internet search engine and global tech giant, Google Inc., has officially entered the electric utility game, although don’t expect to be writing a check to Google Energy for your monthly electric bill any time soon.
In a unanimous vote, the Federal Energy Regulatory Commission has approved a request from Google, Inc. to buy and sell electricity, granting Google “market based rate authority.” But like many new ventures the Mountain View, California-based tech giant embarks on, they’re not quite sure where they’re going with it yet, or what they’ll do with their new authority. Google has no immediate plans to buy or sell electricity, but reportedly made the move to better position itself to manage its own energy and to have more access to renewable energy
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