Your Source for Energy Jobs & Industry News
The post With Vogtle Completion in Sight, Southern Company Targets Net-Zero Carbon Emissions appeared first on POWER Magazine.
Fresh off the announcement that the final module for Vogtle Unit 3 was placed at the nuclear expansion project in Georgia, Southern Company said on May 27 that it was setting “a long-term greenhouse gas (GHG) emissions reduction goal of net-zero emissions by 2050.”
The announcement was made during Southern Company’s annual stockholders meeting, which was held as an online event this year due to the COVID-19 pandemic. The company also reaffirmed its intermediate goal of a 50% reduction of GHG emissions from 2007 levels by 2030.
“I continue to be confident that we are prepared and well-positioned to meet the needs of our customers, employees, communities and investors well into the future and will succeed in the transition to a net-zero carbon future,” Tom Fanning, chairman, president and CEO of Southern Company, said in a statement. “As always, we are committed to providing clean, safe, reliable and affordable energy to the customers we are privileged to serve.”…
Faced with the challenge of making the right moves to accommodate a swiftly changing energy ecosystem, one question draws into sharp focus for generators and the entire power and utilities industry: What will their role become in the years ahead, considering evolving portfolio mixes and changing industry dynamics?
Leaders know there’s a very real possibility that if they don’t fortify that answer quickly, they’ll continue to lose ground to new entrants eager to step in and take their place. It doesn’t have to be that way. We believe that power and utilities can avoid this fate by shifting toward a new role—what we’re calling a Utility Platform Player.
The days of highly centralized generation, with business decisions largely focused on pursuing economies of scale, continue to transform into a world that is becoming far more decentralized. This is happening as more and more customers invest in their own sources of generation—from rooftop or commercial-scale solar facilities to microturbines or other technologies that produce power on a non-centralized basis.…
General Electric (GE) saw its stock price surge more than 7% on June 26 after the company said it would dissolve its stake in oil services company Baker Hughes and spin off its healthcare unit over the next few years.
The announcement comes one day after GE said it would sell its Distributed Power business, which includes the company’s Jenbacher and Waukesha engines, to global private investment firm Advent International in a $ 3.25 billion deal.
CEO John Flannery on Tuesday, in an interview with the CNBC program “Squawk on the Street,” said, “I’m a believer” in his company’s turnaround prospects. “I’m very comfortable when we have seen issues along the way, we’ve serviced them, we’ve dealt with them and I think today is another example of that,” he said.
Flannery, who has divested several of the company’s assets since taking over from long-time CEO Jeffrey Immelt last summer, including the company’s electrification unit, said, “We are finished” when asked if more moves were in the offing.…