Coal-fired electricity producer closes plants, hedges bets on cleaner future

By Incorrect Author 3 December 2009

Progress Energy, based in North Carolina, says it will close 30% of its coal-fired power plants in the state by 2017, betting that natural gas prices will stay acceptably low in the face of stricter rules on sulphur dioxide emissions. The plants were built between 1950 and 1970, and despite having plenty of electricity generating life left in them, Progress now wants to fit them with sophisticated emissions control units. The company says it is taking a financial risk by reducing carbon dioxide outputs -- which are not yet regulated -- but is essentially hedging its bets. Its long-term plan is to provide more nuclear energy. By closing and refurbishing the plants now, Progress is buying itself time ahead of future legislated emission reductions. Read more: The New York Times

Gallery

Support DAILY MAVERICK & get FREE UBER vouchers every month

An increasingly rare commodity, quality independent journalism costs money, though not nearly as much as its absence can cost global community. No country can live and prosper without truth - that's why it matters.

Every Daily Maverick article and every Scorpio exposé is proof of our dedication to this unshakeable mission. Investing in our news media is by far the most effective investment into South Africa's future.

You can support Independent and Investigative journalism by joining Maverick Insider. If you contribute R150 or more per month you will receive R100 back in UBER vouchers. EVERY MONTH until October 2019.

So, if you'd like to help and do something meaningful for yourself and your country, then sign up to become a Maverick Insider. Together we can Defend Truth.


ANALYSIS

NPA’s To-Do-List signals testing times ahead for Shamila Batohi

By Stephen Grootes

Identical twins can be distinguished by their fingerprints.