Monthly Archives: February 2018

Another Bad Week,
 Make That Month,
 For The Coal Industry

It’s been a bad week for the U.S. coal industry. On Monday, Michigan-based Consumers Energy announced that it planned to close all its remaining coal-fired generation by 2040; the company already had closed seven of its 12 coal plants in 2016. Then, on Tuesday, Vectren, an electric and gas utility serving parts of Indiana and Ohio, said it planned to retire three of its coal-fired plants and sell its ownership stake in a fourth by 2023; this from a company that just two years ago was dependent on coal for 90 percent of its generation.

But this week is hardly unique. Just last Friday, FirstEnergy said it was going to close or sell the 1,300 megawatt coal-fired Pleasants plant in West Virginia by Jan. 1, 2019 after being unable to convince federal regulators to approve a deal between two of the Akron, Ohio-based holding company’s subsidiaries that effectively would have moved the facility from the open market into rate base, forcing consumers to pay for the plant even if it was no longer economic.

Not to be forgotten, earlier this month, AEP announced plans to slash its carbon dioxide emissions 60 percent by 2030 and 80 percent by 2050 (based on a 2000 baseline, see my story here). And finally, on Jan. 30, PPL announced plans to reduce its CO2 emissions by 70 percent by 2050 (based on a 2010 baseline).

So, in reality, it’s been a bad month, and similar months are likely moving forward.

Continue reading Another Bad Week,
 Make That Month,
 For The Coal Industry

AEP Looks Forward, Beyond Coal, Trump Team Still Stuck In The Past

The rear guard defending the coal industry in the White House and across the mall at the Department of Energy need to put their reading glasses on and spend some quality time with a couple of just-released documents that put to rest any dreams of recovery.

The first, from American Electric Power, is a corporate document filled with congratulatory platitudes and the obligatory cautions about going too far, too fast. But, and this is the key, it acknowledges reality, and lays out a plan for addressing that reality instead of pining for the past. The report, Strategic Vision for a Clean Energy Future 2018 (which is available here), should be required reading for the Trump White House and the administration’s energy-related political appointees.

The forward-looking tone is evident from the outset, with Nicholas Akins, chairman, president and CEO of Columbus, Ohio-based AEP, writing: “We have diversified our generating portfolio to provide our customers with the clean energy solutions they are asking us for.” [Emphasis added] You could easily read right over this, but it’s worth digging into the details a bit.

Continue reading AEP Looks Forward, Beyond Coal, Trump Team Still Stuck In The Past