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More Coal Cuts—AEP, Mississippi Power Detail Closures
The post More Coal Cuts—AEP, Mississippi Power Detail Closures appeared first on POWER Magazine.
American Electric Power (AEP), which in 2019 reached an agreement to close Unit 1 of the two-unit, 2.6-GW coal-fired Rockport power plant in Indiana, has now announced a plan to close Unit 2 of the facility.
Both units at Rockport are now expected to be shuttered by year-end 2028. AEP, the parent of Indiana Michigan Power, which operates the plant, on April 22 announced it would purchase Unit 2 of the plant from Wilmington Trust Co., a financial services firm. The deal was made to ensure the retirement of both units.
Thursday’s announcement came as AEP announced its first-quarter 2021 earnings, which were $ 575 million, compared to $ 495 million for the same period in 2020. AEP, like many power generating companies, is retiring older power plants and replacing that generation with renewable energy resources. AEP has said its goal is to reduce carbon dioxide emissions by 80% from its 2000 baseline by 2030.…
Continued Toll on Coal; More Companies File Bankruptcy
The post Continued Toll on Coal; More Companies File Bankruptcy appeared first on POWER Magazine.
The struggling U.S. coal industry, decimated by falling demand for the fuel from the power generation sector, and hit hard by low prices during the coronavirus pandemic, saw two more mining companies declare bankruptcy this week.
White Stallion Energy, which operates in Indiana and Illinois, and Lighthouse Resources, a coal company with mines in Wyoming and Montana, filed for bankruptcy in the U.S. Bankruptcy Court in Wilmington, Delaware, on Dec. 2 and Dec. 3, respectively. The U.S. Energy Information Administration (EIA) has reported that the nation’s power sector consumed 30% less coal in the first half of 2020 than during the same period last year, as demand for electricity fell due to the pandemic, and natural gas and renewable energy continued to take market share from coal.
“In light of the challenging market conditions and other impacts on our business from COVID-19, we have been required to reduce costs and reorganize our business, resulting in the reduction of our workforce in Montana,” Lighthouse CEO Everett King said in a statement.…
GE Plans More Job Cuts in Aviation Division – The Wall Street Journal
GE Plans More Job Cuts in Aviation Division The Wall Street Journal
“job” – Google News…
Black & Veatch: No More Coal Construction
The post Black & Veatch: No More Coal Construction appeared first on POWER Magazine.
Black & Veatch is ending the company’s participation in coal-based power market design and construction, saying it will allow the company to focus on clean energy technologies. The engineering and construction giant’s announcement Oct. 29 comes just more than a month after another major energy company, General Electric, said it would exit the new-build coal power market.
“We are an employee-owned company, and we do not make decisions based on what the market wants to hear, or how the market will react,” said Mario Azar, president of Black & Veatch’s power business, in an interview Thursday with POWER. “We make decisions based on the values of our company. We’ve been around for more than 100 years, and we want to be around for another 100 years or more.
“That’s how we make decisions as the executive committee of Black & Veatch,” he said. “It’s really centered around our values and our future.…
More Delays for Vogtle Plant Expansion
The post More Delays for Vogtle Plant Expansion appeared first on POWER Magazine.
Georgia Power said it still expects to meet a state regulatory deadline for commercial operation of the first of two new reactors at its Vogtle nuclear plant expansion. The utility, though, on Oct. 22 acknowledged it has pushed back some aspects of the project, including delaying the loading of nuclear fuel for the first reactor another four months, to April 2021.
The utility in its latest project filing with the Georgia Public Service Commission (PSC) said it now expects to conduct an important system test at the site three months later than outlined in its previous plan, which was filed in July. It’s the third delay this year for the hot functional testing procedure. Georgia Power said that test could now occur in January 2021, but could be moved back to March of next year. The utility in the Oct. 22 filing said fuel loading also may be delayed to mid-year 2021.…