As energy decentralization gains momentum, how should utilities respond? John Farrell, co-director of the Institute for Local Self-Reliance, explores the financial and regulatory forces reshaping the industry. He challenges traditional utility models and highlights the opportunities—and risks—of resisting change. Should utilities embrace decentralized energy, or fight to preserve the status quo? This conversation offers a fresh perspective on what’s ahead and why utility leaders must adapt to stay competitive in a rapidly shifting energy landscape.