the cpuc, that's the agency that regulates utilities drastically. and recently, they made a decision that really drastically changed how customers will be billed going forward, including allowing a new fixed fee. explain that to us. >> the cpuc did a good thing by adding a fixed charge that will end up reducing the usage charge, so that most customers will end up saving money. most people's bills will actually go down because more customers who haven't been paying before. we're talking about rooftop solar. customers are going to start paying a little bit more for the grid that they use night and day, and also this will provide relief to customers are low income and hot summer climates, like in the central valley. and a lot of people are really going to be thankful when the summer heat waves come. >> okay, so the general plan is to reduce rates by 11, right? and as you said, there are some limits and some people will pay less and save money. so what's all this hubbub about? ab 1999 that was supposed to regulate the new so-called, you know, the fixed

when you look at utilities, most people look at utilities, they say, well, it's a yield play, you knowat's where it's defensive. now i hear the overwhelming majority of people suggest now these are just more ai offense plays, and others would suggest, well, that's going to end in tears. now we've taken utilities to the point of their ai plays too? >> well, i think i mentioned to you before my thesis here is that all stocks are technology stocks you either make technology or you use technology if you don't do that, then you're out of business you're going to be competed out of business by companies that are using technology or making it, and so, yeah, i think the market is actually broadening out in a way that makes sense to me tremendous demand for power to power the data centers and naic all work. >> and the notion of, you know, what we heard today from the fed speakers who were out in force, which certainly tilt ed a littl more hawkish the fed chair obviously didn't or at least that's the read, assuming we're reading that correctly. what do you make of that >> well, look, i don't thi

stocks have been trading like utilities lately. citi says the recent crowding in those areas could unwind. they still look at them as defensive plays, right? >> yeah. >> that's just the way utilities have been generally looked at. staples up since the low. utilities have surged. >> the word crowding is weird that would imply everyone is getting in there. there's these big, hot valuations -- >> don't you think it feels like everybody is kind of talking about utilities? >> more people are talking about utilities -- >> but, guys, the bar -- >> generally speaking interest rate proxies. now everybody, literally, is talking about utilities as a.i. plays. >> okay, but the bar was, like, zero for interest and utilities and the multiples are completely rational. so, for example, we'll pick on dominion. i bought it when it traded below 48 about a month ago. prior to that it had been trading around 53. it's trading around 53 now. so consider where we came from and where we're going and if you look across, nexterra is still way off its highs.

what do you make of this decision to add this charge to utility bills? this is a step in the right direction by the california public utilities commission to make sure that everybody pays something for their basic utility service, for wildfire safety, for the poles and wires to deliver the power and to lower the cost, particularly for customers living in extremely hot weather zones in the central valley and customers who shift to electric vehicles and to electric appliances to contribute to meeting california climate goals. how did we get to this amount, this $24? and do you feel like that is reasonable? >> well, there was an extreme proposal by pge and other utilities to have very high fixed charges, higher than $24. >> oh, we're talking about over $60 okay. yes and then there was another extreme proposal by by solar advocates that would completely exempt solar rooftop customers from paying anything at all. and turn came in with a compromise proposal. well, that hit the sweet spot by choosing the same fixed charge that smud that's the sacramento distric

in a bull market, utilities don't generally move, especially where rates have been a bit elevated, utilities don't generally lead the way, right? so that's, to me, the most actionable part of this discussion. >> correct. correct. you're spot on. and that's why from -- be if i'm buying utilities for a.i., i would rather buy traditional tech or communication services for a.i., not play a.i. through utilities. >> right, but those valuations are richer. that's the whole point. >> yeah, but -- no, hold on a second. if you take a look at still -- even though cash flow and debt to equity ratios have improved, which is what you should be looking at when you're making a longer term investment especially in utilities, they've improved, they're nowhere near the prowess of technology and communication services. and then you talk earnings growth as well. and so we like the regulated side of utilities because i think there's a real business. and, you know, if we're late to the utilities on a.i., then we're late to a 3% ector. i'm not going to worry about that. i would rather get tech and communication ser

utilities i disagree with. utilities to me if there is real expansion because of more demand for energy, a great piece about that over the weekend then utilities are a great opportunity except we haven't made money in utilities forever. charles: right. >> why do lps work? mid-caps is second larg allocation in my portfolio. reits, bank loans, financials. why? the blue chip of tomorrow is the mid-cap today. especially financials. what is in financials, regional banks. >> like the regional banks? >> i do. charles: they're looking a little shaky compared to big banks? >> yes. you're taking that risk. that's okay. charles: so what, cpi number, let me jump to the cpi number. let's say it really finally puts the nail in the coffin of any rate cuts. would that really set back these regional banks though? >> i don't think so. you look at cash on hand, availability of cash, look at default rates so far we're just not seating it. charles: right. >> regional banks have significant more local total assets that the big banks

we had a guest on earlier who liked utilities. you are seeing opportunities in utilities.g the market this year. >> utilities are leading year to date it is the generation of electricity to d with pricing p. following those earnings, hopefully some adjustments are being made lastly, they had a rough time the past few years is the reits. >> you gave us a bunch of picks. johnson & johnson and atos one that had me scratching my head is lowe's consumer is stretched. why do you think right now is a good time to buy lowe's when they think the outlook is not amazing. marvin ellison said he hopes it will rebound the market is tough. >> our focus is primarily growth there are two players in that area lowe's and home depot. we love lowe's you know what is unique is a 26% payout ratio they increased the earnings 30% year over year home depot is not. the attractive valuation right now over the five-year pe. >> not concerned about the do it yourself opposed to contractors and builders >> some analysts say higher home prices should lift free cash flow over the next five years for $46 bi

the california public utilities commission or cpsc approved a plan allowing major utility companies inincluding pg and socal edison and san diego, gas and electric to impose a fixed charge on most of their customers, monthly utility bills. >> specifically the plan includes a new flat fee of $24.15 per month. coming up to about $290 per year. in return, the utilities will cut their electricity prices by 5 to $0.7 per kilowatt hour. supporters say the plan will help pay for grid maintenance and in the long run will make it more affordable for californians who need to use electricity for green technology like overnight electric vehicle charging backers also believe it low income californians noting per the plan those already enrolled in the low income, california alternate rates for energy program or care. >> will face a dramatically discount a monthly fee of $6. this is a fair proposal. >> implementing a reasonable fix charge that help support the fixed costs of the grid. we commend the cpc on taking action today in support of the fixed charge. >> and because of their action today, relie

um folks in lubbock have had their municipal utility recently privatized.you know, moving from a muni to a private utility co up to a different structure. so i'm wondering, are there any threats to the personal cooperative people that want to privatize it? people don't t change its structure. and that's does your book any of those challenges that are political threats facing the co-op. not i. the question was, do has that beens on co-ops that people want to privatize them the some of the ious did yeah yeah i'm not sure i would suspect that that is the b i say for sure one of the key breakthroughs i learned g in his book was later down the line when they had become established, there became an issue where the cities be annexing and be the rurales would bome part of an urban area and ious were saying, well, then you know, we get to cover them and they happily fought that off. yeah. and one of the arguments back in the sixties is that, okay, the co-ops done their job. you know, they have energized rural texas. and why do we need them anymore? and several presi

the california public utilities commission or cpsc approved a plan allowing major utility companies in the state, including pg and socal edison and san diego, gas and electric to impose a fixed charge on most of their customers, monthly utility bills. >> specifically the plan includes a new flat fee of $24.15 per month. coming up to about $290 per year. in return, the utilities will cut their electricity prices by 5 to $0.7 per kilowatt hour. supporters say the plan will help pay for grid maintenance and in the long run will make it more affordable for californians who need to use electricity for green technology like overnight electric vehicle charging backers also believe it low income californians noting per the plan. >> those already enrolled in the low income, california. alternate rates for energy program or care will face a dramatically discount a monthly fee of $6. this is a fair proposal. >> implementing a reasonable fix charge that help support the fixed costs of the grid. we commend the cpc on taking action today in support of the fixed charge. >> and because of their action

after paying utility tax. >> do we want it now? protesters call it a tax, but we should note this is not a tax. it is a new monthly charge. and regulators, the california public utilities commission or cpuc, did unanimously vote to approve it. the item passes starting in early 2026. p-g-and-e's residential electric customers will see a charge of $24.15 on their bill each month. customers in the low income programs care and fera will see a monthly charge of 6 or $12, respectively. proponents including the cpuc, point out this is not designed to make the utilities more money because when this monthly charge goes into effect, the cost of electricity will decrease by approximately 5 to $0.07 per kilowatt hour. as a result, they say, people won't see a drastic change on their monthly bills, with the fixed charge. >> is the same amount you'll see on your bill every month, so it won't change. it will add more transparency and more predictability so people understand exactly what they're paying for. the utility reform network consumer advo

utility is up 12. it is pretty broad. lately, it has been staples and utilities having another good day. we should believe in that? >> i think so. if we look at utilities, that is a great example of people trying to broaden it out in terms of the beneficiaries of ai. almost looking at the energy consumption and really trying to find ways of other expression in terms of supply and demand. when it comes to the health of the consumer and earnings were anticipating next week in terms of big retailers, i think we pick another team -- theme within earnings season. some of those areas, especially when it comes to lower income consumer and middle income consumer. that is something we will watch. >> online retail was a big blowup over the last few days. there is a big divergence between the winners and losers. maybe we will get more clarity on that, let's bring in from american private bank and investment partners. welcome to you both. i am reading your notes. >> we try to go through all of the data and we have the best consumer d

that is, these are not simple tenders. which you need to come, there is a specific, that is, each utilitynsumes according to its schedule, somewhere in some hours more, some hours less, you need to find this schedule, you can buy it in different market segments, we have long-term contracts, there is an intraday market, there is a day-ahead market, but the logic is that many companies, let's say, do not have any contacts a... specific with state or utility consumers, they don’t even try to go to these tenders, why, because, for example, the utility enterprise vodokanal, it can simply stop paying, and in order to somehow get this money later, it must have some such contact and say that according to the contract there are no payments, this is a critical infrastructure, and therefore, if you stopped supplying electricity, a prosecutor may come to you, for example. and to say that according to the contract you must continue to supply, so to be a supplier of such consumers, well, you need to have courage, or other specific capabilities, so this aspect, it needs additional study, because, well ,

the california public utilities commission or cpsc approved a plan allowing major utility companies inuding pg and socal edison and san diego, gas and electric to impose a fixed charge on most of their customers, monthly utility bills. >> specifically the plan includes a new flat fee of $24.15 per month. coming up to about $290 per year. in return, the utilities will cut their electricity prices by 5 to $0.7 per kilowatt hour. supporters say the plan will help pay for grid maintenance and in the long run will make it more affordable for californians who need to use electricity for green technology like overnight electric vehicle charging backers also believe it low income californians noting per the plan those already enrolled in the low income, california alternate rates for energy program or care. >> will face a dramatically discount a monthly fee of $6. this is a fair proposal. >> implementing a reasonable fix charge that help support the fixed costs of the grid. we commend the cpc on taking action today in support of the fixed charge. >> and because of their action today, relief is

utilization storage. in pennsylvania we're very excited about the potential to keep our coal and natural gas power plants running for decades to come. in the recently finalize epa rules covering existing coal and natural gas power plants, epa is claiming carbon capture is adequately demonstrated and achievable. a problem i have is duly continues to award grants to spur development of ccus and create commercial scale demonstration. is it adequate demonstrated and commercially viable as epa claims, or juxtaposed to the, is unprovenising yet technology worthy of billions in research and develop an? >> it is a proven technology. >> so what is that disparity? why does that occur? why is it we are saying a different algorithm being provided by the department of energy and what we're saying from epa? >> the department of energy agrees with the epa on the viability of this technology. we're issuing grants on demonstration for different use cases but we know the technology actually works. patch or no in texas is a

after paying utility tax. >> do we want it now?rotesters call it a tax, but we should note this is not a tax. it is a new monthly charge. and regulators, the california public utilities commission or cpuc, did unanimously vote to approve it. the item passes starting in early 2026. p-g-and-e's residential electric customers will see a charge of $24.15 on their bill each month. customers in the low income programs care and fera will see a monthly charge of 6 or $12, respectively. proponents including the cpuc, point out this is not designed to make the utilities more money because when this monthly charge goes into effect, the cost of electricity will decrease by approximately 5 to $0.07 per kilowatt hour. as a result, they say, people won't see a drastic change on their monthly bills, with the fixed charge. >> is the same amount you'll see on your bill every month, so it won't change. it will add more transparency and more predictability so people understand exactly what they're paying for. the utility reform network consumer advoca

but when you are utilizing personal phones or utilizing a trust, that is not campaign funding. there is no campaign violation. which is why the fec never even pursued this. and so i think the american people see this for what it is. they want to keep president trump off the campaign trail. they are seeing what is happening in the swing states across america. and they are seeing exactly this is draining down assets and resources that could be utilized by the president to continue to forge ahead, build a stronger economy, secure our border, and get our nation back on track. this is a sham and that is the only thing this is. michael cohen has no credibility, no integrity, and this is a weaponization against our president. mr. ramaswamy: i want to thank my colleagues for laying out the political backdrop here. this is a politicized persecution that is nakedly apparent. what i want to do is dive a little bit deeper into what we actually learned today in that courtroom. what did we see in their? i learned a lot from being in there in person. the only thing more depressing than the en

the california public utilities commission or cpu see approved a plan to allow major utility companies, including pg and e. >> to impose a fixed charge on most of their customers bills. the plan includes a new flat fee of $24.15 per month. that fee would be $6 for low-income californians in return, the utility well, reduce electricity prices by 5 to $0.7 per kilowatt hour. supporters say the monthly fee will help pay for grid maintenance. >> this is a fair proposal implementing a reasonable fix charge that help support the fixed costs of the grid. we commend the cpc on taking action today in support of the fixed charge. >> and because of their action today, relief is coming to californians who need it most. >> opponents of the plan, however, held a demonstration outside the meeting today. they argue the fixed charge will hurt the very people. it's supposed to help. >> i mean, that's an extra $24 that i would have to budget. it's the lower class, middle-aged disabled and you know, the the working that that they need to look out for. this isn't an elected board. and this is the first tim

what we, you know, one month of utilities up 11%. we are talking about utilities now. that is we come to. staples up 5%. rallying towards new highs with defensive type things taking us there. is there a message in that, i need to be aware of? >> yeah. utilities move, it checks a couple of boxes. it is rate sensitive. it can be the market telling us that tenure can be lower. could be defensive as you are pointing out. not as good. or ai that you point out, a fact, a huge power shortage. i still think this is all that indecisive data but it is broadening and again, to me, when the s&p is at an all-time high i think investigators should be high and half full in looking at the totality of the information. >> lastly, we are recession highs, we are looking at the nasdaq currently at a new record close. tell me about megacap. are you still as big of a fan of the stocks as you were? >> yes. i think that anyone who owns megacaps should put on a 3-year horizon and understand the story arcs, the companies are growing at a time when gdp is at 1%. they will not lose steam in the ne

on the site of the destroyed water utility building, several workers were once again laying out heavily or burnt parts of equipment, they were collected throughout the city, pulled out from under the rubble, some... at the beginning of january of forty-four , gomel radio already reported an important news citizens information. the water utility carried out a complete overhaul of two steam boilers, two steam pumps, two centrifugal pumps, the shafts of three pumping stations were cleaned. the first water collection pumps have started working in the city; by the end of the year it is planned to restore 70 km. water supply networks or 80% of the pre-war length. the pace of restoration of communications, industrial facilities, and the flagship of agricultural engineering gomselsh resembled the pace of the organization. work in the soviet rear after being transferred to the east at the beginning of the war. the decision was made to immediately evacuate the plant, but it also had to be evacuated by manpower. during a week and a half, we were given 1,100 wagons to load all the equipment and acc

debt for utilities is accrued for each day of delay.xander, is contractual, there is a good reason: if you were in the hospital, if you received a disability, lost your job, you simply attach a certificate to the application, attach documents stating that you really are the owner premises, utility companies do not have the right to refuse, as is the case with another type of installment plan, mandatory, if for the previous period, similar to the previous year before... the payment did not go through, it doesn’t happen to anyone, just report it, and if, for example, you owe not by the management company, but by the resource specialists, in the case of a direct contract, then for late payment for utilities, they apply directly to the supplier of such a utility service, this is electricity, water supply, heating. the procedure is the same, but don’t forget to pay in installments in addition to current utility bills. natalya lyubchenko, dmitry roshkov, rostislav kolesnikov and ksenia maklyak. first channel. the beginning of may is the time

utilities are having difficulty producing transformers.still believe the final role as this existing supply chain crisis. can you explain how doe plans to address supply-chain challenges moving forward? >> distribution alleviates that concern and that five years as aswell as make sure there's ampe supply of green oriented electrical steel for those transformers made in the united states. their issues still we were discussing this. because of the clear demand there is been an additional transformer but that they are expanding we gave a grant to one of them for large power transformers we are encouraged by the private sector stepping up to the demand challenges. the avenue also hoped that we could see some funding through the defense production act to continually reinforce we need transformer manufacturing the u.s. >> okay you believe lng has reduced the cot footprint and developing nations? >> potentially that's why the issues studied by that labs in the update >> thank you very much, mr. chairman equipped enlistment time is expired all rec

this continues to come up with utilities in my district. the ga e said the doe has done important work. i am wondering, just to speed things along, has doe re- examined possible options and developed a rapid implementation strategy? >> thank you for the question. this clearly has been a huge problem, not just in your district across the country getting access to distribution transformers. briefings. one, we propose a rule on. we have done feedback and reevaluated and put out a new rule that encourages the full supply chain to be made in the united states. number two, we have set up i'm sure assistant secretary rodriguez was talking about how we had set up a tiger team to identify where the pinch points were. because of that, some of it was making sure that we had the right supply chain, et cetera. we have focused on that through our manufacturing and energy supply chain office. we gave out an $18 million grant to do large power transformers in the united states, which is great. there are three companies that have announced that they are now

the utilities industries are swaddling back. at this were just up for a week or two weeks, i might just ignore it. but i am sorry. it is flashing red for the economy. heading for a slowdown. brown shoes be my term for companies with fading prospects. when you notice one of these index changes, you have to handwrite to the wall street journal archives this one was not hard to find. a headline from april 16th says it all. powell dials back expectations on rate cuts. and expectations have been firmer than expected this year. weakening the case for preemptive rate reductions. okay. powell did not look right there according to the journal. not that it was a multiple rate cut scenario off the table, but maybe rate cuts are out entirely because powell now wanted , quote, several more inflation readings to take rates down. bingo. we knew something was afoot since we got that 3.4 number inflation rate over the week. but this was powell's interview. it was devastating. devastating news at that time. we had people who believe the fed was g

discovery in the utility industry. i would say that principal discovery is that our society is more electrified and fewer and fewer sources, quote, low hanging fruit where we would turn to i'll pick on mike because spectacular company where you would turn to them when they're running their factory who -- who will tell us as i worked in if you take power away from milliseconds you cause astonishing economic destruction. i have had that happen to me whensh i ran as a young man. so you don't get to ask them to turn it off right now. the wind isn't blowing and batteries are run out when you have a four hour bat battery you don't have a pile of coal nearby or more electricity if the wind -- cloudct covered. it is not a solution. but it is a tool in managing cycles, society is cyclical. humans are cyclical to peak demands can be shaved but don't produce energy. b>> since you turned to micron i'll turn to micron both electricity service and the quality of the electric service that you get are incredibly important to micron. w

gina: i think all of the utilities, this is overstated. when we look at utilities earnings statements, we look for to spend tens of ai where even the census bureau does a survey every two weeks of companies across industries. utilities companies are not mentioning ai is a growth prospect. it is really a market phenomenon. the reason utilities outperformed over the last three months is due to the speculation but also because bond yields rallied. also because markets across the world corrected and utilities are low beta sectors. this is not necessarily a tech adjacent story. what we look for next is actually the companies that are going to spend on ai need to start to see improvement in productivity and margins as a reflection of that spend. so this story becomes less about demand for tech that fuels tech sector growth which i think will persist but nonetheless, that has been the only real leg of the story so far is who will buy ai and how will that benefit tech and tech adjacent companies. going forward we will slowly transition to the next

i would like to note the san francisco public utilities commission acknowledge it owns i stewards of the lands located within the historic -mission san jose band of al mead ow county. also recognizes every citizen residing within the greater bay area has and continues to benefit from the use and occupation of the oholone tribes aboriginal lands since before and after the san francisco public utility founding. it is important we recognize the history in the tribal lands and acknowledge and honor the fact the oholone people have established a working part nership with the sfpuc and productive and flourishing members within the greater san francisco bay area communities today. if we can have the first item. >> item 3, approval of the minutes of april 23, present 24. >> any corrections or comments on the minutes? seeing none, >> move to approve. >> let's open to the general public first, please. >> remote callers, please raise your hand if you wish to comment on item 3. do we have members of the public who wish to provide comment on this item? >> seeing none in the room, let's go to publ

the california public utilities commission or cpsc approved a plan allowing major utility companies in the state, including pg and socal edison and san diego, gas and electric to impose a fixed charge on most of their customers, monthly utility bills. >> specifically the plan includes a new flat fee of $24.15 per month. coming up to about $290 per year. in return, the utilities will cut their electricity prices by 5 to $0.7 per kilowatt hour. supporters say the plan will help pay for grid maintenance and in the long run will make it more affordable for californians who need to use electricity for green technology like overnight electric vehicle charging backers also believe it low income californians noting for the plan. >> those already enrolled in the low income, california. alternate rates for energy program or care will face a dramatically discount a monthly fee of $6. this is a fair proposal. >> implementing a reasonable fix charge that help support the fixed costs of the grid. we commend the cpc on taking action today in support of the fixed charge. >> and because of their action

the utility. pg and e was on to say, a statewiypof ownership framework would not benefit our customers, taxpayers, local communities, and the state of california's econo. it also says that any state oca attempt to take over pg and e assets could lead to a variety of unwanted things, including costing taxpayers billions of dollars, putti liability on taxpayers for wildfires caused by equipment, and less safety oversight. this is the response from pg and e i recently sat down for an exclusive interview with the pg and e! ceo patty poppy. she says pg and e plans to cut rates next year, so we pressed her on it, forecasting prices falling in 25 and again in 2026. so that's 25 is next year, 2026 is two years from now. that is exactly what we're working on. so we've gone up 100% in the last five years. so in the next 3 to 5 years, will we go down 100, 20, 50? we're working on forecasting what those reductions are going to be, but we're going to drive those reductions. is there at any point in your power

you mentioned utilities which i find fascinating because utilities has almost led the way, it has been> so we're putting out a report tomorrow on utilities. it is not the sector you get asked about the most of course. tends to be interest rate sensitive, risk off. two things utilities have going for them. one the economy is slowing down as we see it that will benefit utilities like interest rate cuts for sure. they're seen as bond substitutes. we're skeptical about the story, we're getting asked about it more, we're doing the digging on it, utilities are acting more like a growth stock because there is perception they're tied to higher electricity demand because of data centers built to support a.i. tools. in this market once you are affiliated with anything related to a.i. you get bit of a boost for your valuation. we're seeing higher expectations for utility firms but higher expectations as investors treat them a little bit differently than they have in the past. ashley: i want to ask you about commodities, gold silver, platinum, even copper. copper went over $11 a ton for the first

city leaders want to replace pg and e with the not for profit utility. is that even possible?s nbc's terry mcsweeney. motion passes with council members appear absent. the richmond city council voted unanimously last night to ask the state to replace pg and e, which has doubled its rate since 2019 with golden state energy, a nonprofit public benefit utility. we want the needs of the people put first safety, reliability, affordability, health and climate issues come first for communities and not profits. pg and e issuing a statement in response saying this type of ownership framework would not benefit customers. taxpayers local communities, the state or california's economy. pg and going on to say it would cost taxpayers tens of billions of dollars in long term debt, increased taxpayer liability in case of wildfires, and lacks critical federal and state oversight that people are looking for rate relief. now, the switch from pg and e could cost lots of time and money, according to mark toney, the executive director of the utility reform network or turn, he thinks it's unlikely t

so you think about utilities as a sector, utilities are typically a very defensive sector, very interestpened in 2022 as interest rates started to go up, utilities fell which is the inverse relationship to be expected. but fast forward to today, utilities have been one of the best performing sectors in the market, and that is because of the data center demand. so goldman did a super interesting report that actually looked at the electricity the demand in the u.s. for the next 10 years. they're expecting compound annual growth of 2.4% per year for the next 10 years versus the last decade where we saw 0% growth, and that 2.4%, a third of that alone is related to data center demand -- charles: right. >> that's 50 billion of new production that doesn't exist today. charles: i've got less than a minute to go, and i do want to to get a macro feel from you with. the economy, obviously, it's slowing down. the what degree, everyone has a this debate. but, you know, if it slows down enough, you mentioned earnings estimates recently, i mean, earlier in the program. i agree, they're the mother's mil

no, it's nice to see utilities acting better again.g some of the defensive qualities for the first time in a while and we do have, as you call the sexy theme, in data centers as a play on the, you know, increasing growth of power demand to fuel data centers that's been a lot of focus across power names like constellation energy and visra we like a lot, nextera and the renewables area, and then there's a whole bunch of utilities with exposure, it's more modest, but, you know, several of them have a quality, you know, at a reasonable price like ppl, and the like it's -- that's really been driving i think the increased interest in the sector. >> you think it's the increase in the funds versus the rate story? >> rates have actually gone up, not down, so it's in theory, it was all about rates, utilities should have been weakening over the last couple months, but in our opinion it's more about the market playing offense or defense and for the first time in a while, there's been a little interest in having defense in the portfolio, not just o

and utility is going solar.in right on par for a cost perspective with some of the traditional thermals that we have used such as thermal and gas. but the good news. the bad news is those new nobles are intermittent. the very nature of that word they do not operate 24 seven. how do you cover that gap? it is becoming incredibly complex for utilities and grid operators to balance supply and demand. demand spikes occur in the middle of the day or on a weekend. need to be ready for that. today they use reserve margin. it is the amount of production over the peak demand. the reserve margins have slowly been shrinking. this is before we even get to the explosion that is ai. >> yes. we are all at that point. how about this notion that people are losing interest in your ev. what does that mean for generac? >> today, the ev penetration rate is going to slow a little bit. driven ev charging product. it is not a huge part of our business. it is an important part of our ecosystem. more people electrify everything in the hom

we have heard this moving utilities is the next way to play ai. be careful with narrative creep, that does raise an an tenant with us. it goes with staples because there is a countercyclical street and i would be careful about making the ai jump buy ai if you want ai. >> so crowded and the valuations are stretched. spent looking for other ways to play ai, i am not saying to buy every utility name but that is a legitimate angle and maybe the next angle to the ai story. another hypothesis, could utilities be turned because bond yields don't run away from us? that is where i think is the more consequential piece of information. >> choice c, all of the above. >> for investors, one poorly for six months from now, in your yield at 5.25% or at 4%. strengths in the bank, i argue for a 4% more than 5.25%. >>> next, the biggest movers into the close. christina is standing by. >>> investors are not oppressed, shares of a luxury car brand are lower come in one soul the most expensive car in the world. details next >>> back to kristina for the stocks she is wa

that's propelled those utility stocks to trade like risk-on strategies.he second reason why i like that group is because if we do get into a hard landing economic scenario and credit spreads widen out, we do really see a broad-based systemic drop in the economy, then utilities become kind of the bastion of stability. charles: right. >> so they can be risk-off play as well. charles: right. they have always had that role. that was always their traditional role, right? the ultimate safe haven. get a nice dividend, cash is steady. speaking of the economy slipping right, i'm reading all over the place people comparing your recession indicator with the sahm rule things like that. a lot of similarities, the number unemployed is the numerator of rates that may be only thing that is different. what i thought was intrigue about this is the signal. it worked really, many times. just how close are we potentially going into recession? >> well, you know, charles, i don't like the word recession because i think it mine as lot of different things to a lot of different pe

those were the exact words you used for utilities.se have not been trading lately like there's a little bit of an a.i. play. these have been trading like there's a whole lot of a.i. play. is that warranted? >> well, i think a fair point if you say, hey, let me list the biggest winners from a.i., utilities are not at the top of the list but if you look at how oversold they have been, utilities don't do well during the early stages of a bull market because they're low beta but even accounting for that up until a few months ago, it was the worst ever start for the s&p 500 utilities sector to a bull market going all the way back to 1972, so there's some potential here even after the run that they've had. >> all right. we'll talk to you soon, ed. thank you. session highs for the dow. we're trying to get back and close above 40k after hitting it for the first time ever this week. the s&p above 5300 as well and up next we're tracking the biggest movers into the close. kristina partsinevelos is standing by once again with that so tell us what

how could southern utility fit in the list? what if boston scientific holds another company, in tandem with 52 week highs? it is all about the zeitgeist of this very odd, very bullish hunt. let's go over what is really happening with this tremendous rally, because that is every part about how this business works. i am going to listen because it is that special. for years, we have been taught -- you are either in one kind of market or another, but not both. you can say either you go higher, or other groups go higher. rallies, or goes down. not this time. not this time. we have a ton of industrials, banks, utilities, and tax all going up at the same time. that almost never happens because utilities going up to a recession, industrial goes down when we are headed to an inflation. tech rallies, internet, data center, in this case, artificial intelligence. financials soar when inflation is getting under control and the consumer is strong enough to pay back loans but rates stay high. homeowners move up when rates are about to plummet