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Columbus, Ohio-based American Electric Power Company Inc. said it is likely to seek approval from regulators to shut its three-unit, 1,600 megawatt coal-fired power plant in Conesville, Ohio if it doesn’t qualify for subsidies or “there are not other changes in the market,” company spokeswoman Tammy Ridout said in phone interview.
“I will tell you it is not a matter of if we are going to retire our coal fleet in this nation, it’s just a matter of when,” Ben Fowke, Xcel Energy Inc.’s chief executive officer, said June 6 at a utility trade group conference. The company announced later that day that it would retire two coal-fired units in Colorado and add thousands of megawatts of capacity from renewable power and natural gas.
And there is doubt, too, that the administration’s use of rarely used emergency authority will withstand court challenges.
“We don’t think it’s legal,” Abe Silverman, head of regulatory affairs for power producer NRG Energy Inc., said in a phone interview. The Energy Department didn’t respond to a request for comment.
“It’s pure economics. Gas prices are way down, renewable projects are getting much less expensive and they are beating other older technologies out in the markets.”
“I think from our perspective we will continue moving toward a clean energy economy,” AEP Chairman Nicholas Akins said in an interview. “When you look at the future and the investment potential and the risk associated with these investments by far the best approach is with natural gas, renewables and in fact technology."
originally posted by: IkNOwSTuff
Why can’t you people just be happy the country’s doing ok for a change?
MAGA folk aren't going to stop being fantastically wrong about everything in the world,...
originally posted by: TrueBrit
a reply to: IkNOwSTuff
Are you measuring that on the basis that the markets don't look as bad as they did, or are you basing that statement on the actual effect at street level, where the real people of a nation live and work?
Because none of the people I know in the US, have reported to me that real life, cost of living, cost of rent, energy, or any other damned thing has improved, and neither has the pay they can expect, even from full time employment. There is a great deal of catching up to do from the workers perspective, before anyone can truly say that America is doing well, because if the regular Joe's are not doing well enough to live and save on the work they do, nothing is actually better, nothing is improved or improving. Until the effects of a policy are felt at street level, all the paper shuffling means absolutely nothing.
The article also lies implying the closing of these plants will somehow cause coal to stop being mined. The demand for coal has continued to increase under Trump by 7.8 percent. Hes removed restrictions on exports and demand will continue to increase from asia and south America. The issue Trump has is the dependence on natural gas. If we switch our entire power grid natural gas pipelines become a major target. For example there are 5 main hubs for distribution. Destruction of any one of these would mean several states wont have electricity.
To roughly translate, the economy has taken a massive upswing. Alternative energy sources are back into the fold and technology has advanced far enough that these businesses think they be able to finally turn a proper profit from obtaining and distributing energy by other means.