The good news is that electricity use is going down, the bad news is jobs are being lost. Over the last 9 months, electricity generation has fallen 2.6% (year over year). See the attached graph.
Some reasons for the drop are:
The hurricanes that hit can be partially to blame for the drop in August and September.
More efficient heating and air conditioning systems, along with energy efficient lights and the ubiquitous solar panels can account for the decline. These are not declines for certain months but are yearly declines.
Industries that are energy mega users have been off shored.
As far as the impact of energy companies financials, they have made gains due to more efficient ways of generating electricity. This, on the face appears to be a good thing, but it led to bankrupting natural gas drillers and coal mines.
Times are changing to be more accepting of ‘green’ energy sources but these sources are not reliable. As the technology provides more practical and cost efficient ways to manufacture batteries, this will improve. But the problem at hand is the failing of the companies that generate electricity and maintain the ‘grid’.
For the electricity generation companies, their plan seems to be all in on the electric car so they can improve the energy usage. Since this industry is reliant on the battery manufacturers, we are back to square one. In the short term gas is still king but it is changing. When it comes to companies that generate the electricity, their paradigm is also changing.