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Jay McKinsey

Utility In The Middle Of Coal Country Opts For Renewable Energy

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Vectren announced this week it plans to slash the use of coal-generated electricity in its system from 78% to just 12% over the next few years and dramatically increase the amount of electricity it gets from renewable sources. The company says the move will significantly decrease carbon emissions and save rate payers more than $300 million.

There’s even more good news. Vectren says it has decided against building a new natural gas-fired generating station that would have cost $900 million. As coal goes, so will natural gas. One of the economic factors that favors renewables is the ability to plan what the cost of electricity will be decades from now. Natural gas may be cheap now, but experience suggests it can rise dramatically in price if market conditions change. In the world of electricity generation, predictability is almost as important as getting the lowest possible price.

Edited by Jay McKinsey
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