AEP Not Giving up on Clean Energy

AEP Not Giving up on Clean Energy

June 6, 2017

by Margarita Fournier, Copyright 2016 by Competitive Assets, LLC.  All rights reserved

American Electric Power (AEP) is affirming its commitment to clean energy. According to GreenTech Media, AEP President and CEO Nicholas Akins told NPR this weekend that “’Our investors certainly expect us to really focus on sustainability and de-risk our business,’ he said. ‘So we continue to focus on that. Secondly, from a customer standpoint, there’s an expectation that we move to that cleaner energy economy.’ Faced with that competition, 89GW of coal capacity – a quarter of the U.S. coal fleet – has either shut down or been slated for retirement since 2010. AEP’s resource plan for the next few years calls for new wind and solar generation backed up by flexible natural gas. After years of market dominance, coal is facing a bevy of new competitors. Any new coal generation must be weighed against cheaper natural-gas generation and the declining costs of renewables, Akins noted. ‘We still believe that coal should remain a part of the portfolio, but certainly, a smaller part of the portfolio, so that we can manage risk and have multiple sets of solutions available to us,’ Akins explained.” More on AEP is also at SeekingAlpha.

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