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Google Images: Coal-fired Power Plant
Power Company, Dynegy Inc. recently announced that it will end its coal-fired power plant development deal with LS Power Associates. The reason? Credit issues and regulatory hurdles that Dynegy CEO said were making development much more uncertain.
While credit issues will likely ease, regulatory restrictions will not. And it is because of these regulatory issues that we believe the future of coal-fired power plant development will continue to taper off – despite increases in energy demand.
With new climate change legislation all but guaranteed, fossil fuel depletion a reality, and more and more states initiating new renewable portfolio standards, power plant developers are going to find it in their best interests to seek cleaner, safer forms of power generation.
In fact, Xcel Energy (NYSE:XEL) has recently stated that its energy efficiency plan for 2009 will save enough power to avoid building a new coal-fired power plant. Xcel spent $20 million on energy efficiency in 2008, and plans to spend $63 million this year on programs that will reduce energy demands by their customers.
Xcel also has stated a goal of achieving 20 percent of its electricity sales from renewables within 6 years.
For more info: Xcel, Renewable Energy Investing
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