Nuclear Industry Withers in U.S. as Wind Pummels Prices: Energy
Source: Bloomberg
A glut of government-subsidized wind power may help accomplish a goal some environmentalists have sought for decades: kill off U.S. nuclear power plants while reducing reliance on electricity from burning coal.
Thats the assessment of executives and utility experts after the U.S. wind-energy industry went on a $25 billion growth binge in 2012, racing to qualify for a federal tax credit that was set to expire at years end.
The surge added a record 13,124 megawatts of wind turbines to the nations power grid, up 28 percent from 2011. The new wind farms increased financial pressure on traditional generators such as Dominion Resources (D) Inc. and Exelon Corp. (EXC) in their operating regions. Thats because wind energy undercut power prices already driven to 10-year-lows by an abundance of natural gas.
Right now, natural gas and wind power are more economic than nuclear power in the Midwestern electricity market, Howard Learner, executive director of the Environmental Law and Policy Center, a Chicago-based advocate of cleaner energy, said in a phone interview. Its a matter of economic competitiveness.
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Read more: http://www.bloomberg.com/news/2013-03-11/nuclear-industry-withers-in-u-s-as-wind-pummels-prices-energy.html
bemildred
(90,061 posts)TwilightGardener
(46,416 posts)under the tower, is all.
eggplant
(3,912 posts)Redfairen
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(19,362 posts)chknltl
(10,558 posts)Best thing i have heard or read all month! Easy knr