Power Technology Stocks Rise on California Concerns
NEW YORK, Jan 11 (Reuters) - The stocks of companies developing promising solutions to potential power problems soared on heavy volume on Thursday as their potential was highlighted by the latest problems in California.
The widely publicized crisis faced by California's two largest electric utilities -- subsidiaries of PG&E Corp. and Edison International -- are causing investors to look at makers of solar cells, fuel cells and miniturbines that promise to provide homes and businesses with their own power supplies, according to F.A.C./Equities' power technology analyst, William Fogel.
These companies promise distributed generation -- siting of the power supply where the electricity is needed. This allows the power user to be independent of the local utility's wires when those wires do not have the capacity to do the job for an entire community.
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