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
While we have your attention...
An increasingly rare commodity, quality independent journalism costs money - though not nearly as much as its absence.
Every article, every day, is our contribution to Defending Truth in South Africa. If you would like to join us on this mission, you could do much worse than support Daily Maverick's quest by becoming a Maverick Insider.
Click here to become a Maverick Insider and get a closer look at the Truth.
"We spend the first year of a child's life teaching it to walk and talk and the rest of its life to shut up and sit down. There's something wrong there." ~ Neil deGrasse Tyson