Surprise: AEP chief says Clean Power Plan can be a ‘catalyst’ for transforming the industry
Biz Journals, November 11, 2015. Image credit: Pulpolux !!!
Ohio is among the dozens of states suing the U.S. EPA over its wide-ranging Clean Power Plan, but one of the state’s coal-centric electric utilities says it can help as it diversifies its electric generation mix.
American Electric Power Company Inc. might seem an obvious critic of the plan; just a decade ago, coal made up 74 percent of its fuel supply.
But the Columbus utility (NYSE:AEP) is steadily changing the mix. It projects its coal use to fall to 51 percent next year, with its former share taken up by natural gas, renewables and energy efficiency.
Using less coal is one of the hallmarks of the power plan. CEO Nick Akins said large-scale solar farms, instead of solar panels installed on rooftops, is one way AEP can help states meet the carbon-reduction standards.