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President-elect Donald Trump’s transition team has made the U.S. energy industry a focus of its plans for his first days in office, with analysts and energy experts expecting a rollback […]
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The post GE Hitachi: Nuclear Costs, Innovation Must Be a Pivotal Focus for Carbon-Free Future appeared first on POWER Magazine.
Nuclear energy’s future as a critical pillar in a decarbonized world will depend on its adaptability to rapid change, but the sector must focus on costs, certainty of outcome, reliability, and experience to cement its role beyond the transition, GE Hitachi Nuclear Energy (GEH) President and CEO Jay Wileman told POWER in an exclusive interview.
While the world’s existing nuclear fleet of more than 400 GW already plays an important energy security role—providing affordable and stable power that is largely independent of fuel market price fluctuations—an expansion will be necessary to bolster climate-conscious energy goals. But the challenge is multi-faceted, Wileman said.
First, it will require keeping online the world’s installed base of 450 reactors, both by maximizing their lifetime output and diversifying their commercial applications beyond power generation. “If you lost that installed base, you’re setting yourselves decades backward in your path toward getting to the carbon goals,” he said.…
The Edison Electric Institute (EEI), an industry association that represents all U.S. investor-owned electric companies, made a point during its annual convention of recognizing the mutual assistance workers who labored tirelessly to restore power to Puerto Rico following Hurricane Maria.
Nearly 200 personnel, who had worked on the ground in Puerto Rico, gathered on stage during the opening session of the EEI event in San Diego, California, on June 5. Even though the actual number of workers involved in the effort was far greater—Tom Kuhn, EEI president, said more than 3,000 lineworkers, support personnel, and company representatives were part of the historic mutual assistance response and restoration effort—a gasp could be heard from the crowd when the group of 200 stood to make their way to the stage.
EEI Chairman and PNM Resources Chairman, President, and CEO Pat Vincent-Collawn said, “The expertise, the creativity, and the leadership that was brought to bear, along with the sacrifices of so many of you who answered the call for help, were extraordinary.…
NRG Energy said it will sell as much as $ 4 billion in assets as it seeks to lower its debt and cut costs after a revolt by activist investors unhappy with the company’s direction.
Shares of the company jumped 29% to a two-year high on July 12 after NRG announced the moves as part of a “transformation plan” designed to divest most if not all of its NRG Yield renewable energy business along with some of its conventional energy assets, including coal- and natural gas-fired power plants.
NRG, headquartered in Houston, Texas, said it wants to remove $ 13 billion in debt and generate more than $ 850 million in annual free cash flow, with a goal of adding more than $ 6 billion to its balance sheet through 2020 that would be available for new projects and investments.
NRG Energy unveiled a new plan to sell assets and change its focus in an effort to increase the company’s value for shareholders.