NRG Aligns Carbon Goals with 1.5-Degree-C Climate Trajectory

Credit to Author: Sonal Patel| Date: Thu, 26 Sep 2019 13:11:45 +0000

The post NRG Aligns Carbon Goals with 1.5-Degree-C Climate Trajectory appeared first on POWER Magazine.

NRG Energy has joined a growing list of major U.S. coal generators that want to achieve net-zero greenhouse gas (GHG) emissions by 2050.  The Princeton, New Jersey-based energy company on Sept. 24 said it would accelerate carbon goals it set in 2014 to reach its 50% GHG reduction target (from a 2014 baseline) by 2025—not […]

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Duke Energy, American Electric Power Separately Seeking to Go Net-Zero Carbon by 2050

Credit to Author: Sonal Patel| Date: Thu, 19 Sep 2019 14:11:08 +0000

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Two formidable U.S. coal power generators this week separately revised their their carbon dioxide emissions reduction targets. Duke Energy announced it would achieve net-zero carbon emissions by 2050. American Electric Power (AEP), meanwhile, said it would extend its target from 60% to 70% from 2000 levels by 2030, and by more than 80% by 2050—but […]

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Power Sector CEOs Join Top Execs in Redefining Corporate Purpose

Credit to Author: Sonal Patel| Date: Thu, 22 Aug 2019 13:36:50 +0000

The list of 181 CEOs who earlier this week moved to publicly degrade shareholder value in a bid to redefine the “purpose of a corporation” includes several chief executives from power companies.  The Aug. 19 statement issued by the Business Roundtable, an association of CEOs “to promote a thriving U.S. economy and expanded opportunity for […]

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AEP Will Close 1,300-MW Indiana Coal Unit

Credit to Author: Darrell Proctor| Date: Thu, 18 Jul 2019 19:31:07 +0000

A federal judge in Ohio on July 18 approved American Electric Power’s (AEP’s) plan to close Unit 1 of its two-unit, 2,600-MW coal-fired Rockport Plant in Indiana. The modified consent decree approved by the U.S. District Court for the Southern District of Ohio on Thursday is the latest chapter in a long-running dispute among AEP, […]

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Sempra Energy Exits U.S. Renewables Sector

Credit to Author: Sonal Patel| Date: Thu, 25 Apr 2019 11:47:46 +0000

Sempra Energy on April 22 marked its complete exit from the U.S. renewables business as it completed the sale of 724 MW of operating wind generation and battery assets to American Electric Power (AEP) for $1.05 billion.  The San Diego–headquartered utility holding company, which says it has the largest U.S. customer base, said the move […]

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Despite Financial Hurdles, Utility Capital Spending to Remain Elevated

Credit to Author: Sonal Patel| Date: Thu, 27 Dec 2018 16:34:36 +0000

Despite higher taxable income and pressure on balance sheets, capital spending by regulated utilities will remain elevated—and much of it will be dedicated to replacing aging infrastructure, hardening or efficiency-boosting measures, and on renewables and environmental projects, said Moody’s Investors Service in a recent sectoral briefing.  The credit ratings agency for the first time this […]

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AEP Will Close Ohio Coal Plant Early

American Electric Power (AEP) this week confirmed it will close its coal-fired Conesville Power Plant in Ohio earlier than originally planned. An AEP spokesperson in an email to media confirmed the plant’s workers were told October 5 that the plant will close by May 31, 2020. AEP said Units 5 and 6 at the plant, […]

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Losing Regulatory Approval Gamble, AEP Scraps $4.5B Wind Project

American Electric Power (AEP) has abandoned its mammoth $4.5 billion Wind Catcher project, one of its largest planned investments, and a key part of its strategy to tamp down carbon emissions by 2030. Under AEP subsidiary Southwestern Electric Power Co. (SWEPCO)’s proposed Wind Catcher project, AEP would have acquired a 2-GW wind farm—under construction in […]

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