The power of input substitution is having an impact on electricity generation as seen in the following two articles.
AES New York Subsidiary Declares Bankruptcy on Coal Woes
POWERnews
An AES Corp. subsidiary that owns more than 1,000 MW of coal-fired capacity at six facilities in New York last week filed for Chapter 11 bankruptcy protection, citing falling power prices and heightened costs from compliance with environmental regulations.
AES Eastern Energy and 13 affiliated entities—all wholly owned by AES Corp.—filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. The company’s dire financial situation was brought about by a number of operational factors, it said, including “reduced power prices brought on by low natural gas prices, increased costs for coal, and significant costs for air pollution controls. As a result of these…
Sunbury to Shutter Five Coal Units, Make Switch to Gas
POWERnews
Pennsylvania’s Sunbury Generation, a company that owns the Shamokin Dam plant—the nation’s oldest coal-fired power plant—last week reportedly said it would close five of its six coal-fired generation units and replace them with two natural gas–fired turbines by 2015. The company cited stricter regulations on power…