Tag: Billions
Report: Investments in Coal Risky, Billions in Assets Could Be Stranded
A study from a London-based group focused on financial aspects of the energy industry said up to $ 60 billion of coal-fired power generation assets may be stranded in Southeast Asia in the next 10 years. The study released this week by Carbon Tracker said renewable energy resources and more-stringent environmental policies make investments in new coal generation “a mistake.”
The study was released on the heels of a report last week from the Institute for Energy Economics and Financial Analysis (IEEFA), a Cleveland, Ohio-based clean energy group, that said the U.S. will retire 15.4 GW of coal capacity in 2018, which it said represents 44 coal-fired generation units at 22 power plants. The group said another 21.4 GW of coal generation will close by 2024.
The IEEFA report said the U.S. is still operating 246 GW of coal generation capacity, with announced retirements from 2018 through 2024 (Figure 1) representing about 15% of that total. It said coal plants in at least 14 states are scheduled to close over the next few years, including units in Ohio, Pennsylvania, Florida, Indiana, Minnesota, Missouri, Kansas, Kentucky, Maryland, Tennessee, Texas, Virginia, West Virginia, and Wisconsin, according to IEEFA.…
Billions Over Budget, Kemper Facility Gasification Portion Is Suspended
Operations and start-up of the lignite gasification portion of the Kemper County Energy Facility, marred by exorbitant delays and cost overruns, and will be suspended immediately, Mississippi Power announced on June 28.
The Southern Co. subsidiary plans to continue running a combined cycle gas turbine (CCGT) plant that was completed as part of the $ 7.5 billion project three years ago, pending the Mississippi Public Service Commission’s (MPSC) decision on future operations.
Southern Co said the step was “appropriate” to manage skyrocketing costs, given the economics of the project, and the MPSC’s recent intent to establish a settlement docket to address matters related to the future operation of the gasifier portion of the project.
The proposed settlement docket is to be established by the commission on July 6. “The company will make any future announcements as to the status of the project based on the outcome of that process or future Commission action,” Southern Co. said.
Jack Bonnikson, a Southern Co.…