26 Apr '12, 8pm

Natural Gas Is on a Roll, Executive Says

Natural Gas Is on a Roll, Executive Says

A “perfect storm” of economic and regulatory factors is driving major United States utilities to rapidly switch from coal to natural gas as an electric power source, the top executive of one of the nation’s largest utilities said on Thursday. Bloomberg News Nicholas K. Akins, chief executive of the Ohio-based utility AEP. Nicholas K. Akins, chief executive of Ohio-based AEP, said the company plans to retire 5 of its 25 coal-burning plants and shut down coal-powered units at other plants it owns in a shift that collectively means the elimination of about 5,000 megawatts of capacity. The result will be that by 2020, only about half of the power AEP produces will come from coal, down from about 67 percent last year. The surge in domestic production of cheap natural gas, largely yielded by the rise of the controversial technique of forcing gas out of shale through hydraulic fr...

Full article: http://green.blogs.nytimes.com/2012/04/26/natural-gas-is-...

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