September 22, 2012: it's absolutely amazing how MDW stays a jump ahead of some of the bigger stories, some of the bigger blogs. But enough of this congratulatory back-slapping. The Daily Caller.com reports that more than 200 coal-fired generators are slated for shutdown.
Within the next three to five years, more than 200 coal-fired electric generating units will be shut down across 25 states due to EPA regulations and factors including cheap natural gas, according to a new report by the American Coalition for Clean Coal Electricity (ACCCE).
“This is further evidence that EPA is waging a war on coal, and a war on affordable electricity prices and jobs. EPA continues to ignore the damage that its new regulations are causing to the U.S. economy and to states that depend on coal for jobs and affordable electricity,” said Mike Duncan, president and CEO of ACCCE, in a statement.
However, ACCCE notes that EPA policies may have played a role more than 4,800 megawatts of announced closures not included on in their report which would bring total shutdowns to 241 coal generator in 30 states — more than 36,000 MW of electric generation or 11 percent of the U.S. coal fleet.This is simply great, great news for ONEOK and the natural gas industry in North Dakota. For others, maybe not such a good story. For investors: one huge opportunity, especially if President Obama is re-elected. This is not rocket science.
This was first posted at Yahoo!Finance In-Play late last night/early this morning. I forgot to post it then.
So, here the story is, expanded:
Market forces and environmental regulations that are driving a steady decline in coal-fired power generation across the U.S. have prompted PPL Montana to mothball a 154-megawatt coal plant in Billings, company officials said.
The 44-year-old Corette plant will shut down indefinitely in April 2015, PPL spokesman David Hoffman said Thursday. That's when new federal pollution rules kick in that Hoffman said would have cost the company $38 million in upgrades.
The announcement comes as coal fired generation is on a steep decline across the country, with 57 plants generating a combined 8,990 megawatts expected to retire this year, according to the Energy Information Administration. Competition from cheap natural gas is one of the primary reasons as many electric companies and utilities abandon older, less-efficient coal plants in favor gas plants.In light of earlier articles posted, I found this interesting:
Subsidies to wind power projects also have put coal at a disadvantage, and the company already had been forced to idle Corette for three months this spring, Hoffman said.Killing me softly. With his song.
A Note for the Granddaughters
Roberta Flack's Killing Me Softly reached #1 in 1973. It coincided with my coming-of-age years. I loved it then; I love it more now. A lot of forks in the road of life. Robert Frost, The Road Not Taken.