The magic of capitalism is that even if incumbents don’t want to lose sunk costs in old power plants, competitors can spring up, make the small capital investments needed for FF plants, and sell power at 1/20th the cost anyway. At which point the incumbents either get with the program or go bankrupt, unless they manage to convince governments to outlaw the competition.
Given the realities of the electric grid and regulated utilities, maybe it’ll actually work out this way: utilities buy and sell FF-produced electricity at regulated rates. FF producers make out like bandits at first, and as they proliferate, state regulators gradually reduce rates. Most likely, they reduce the purchase price faster than the sell price, giving utilities compensation for obsoleted power plants.
The difficulty of converting all vehicles to electric is why I’m interested in using FF to make gasoline.
Home heating is a good point. FF-powered plants could make cheap oil too, but wood and coal might be harder to substitute.
Do NOT under estimate these companies desire to use every dirty trick in the book to get in the way:
1st They will try and buy and regulate the technology themselves.
2nd They will make all attempts to make this device expensive to build and run.
3rd They will attempt to undermine the intellectual property.
4th They will attempt to prevent the device being made or used.
5th They will play the safety card.
Various legal and illegal events WILL occur to protect their investments.
They will LIE, CHEAT and STEAL to get what they want!
History is littered with examples:
1. High pressure vs Low pressure steam engines
2. AC vs DC electricity