Study shows coal’s importance to electric affordability

A new study estimates the costs of replacing coal plants with renewable power sources.The study by Energy Ventures Analysis analyzed the annual cost of replacing coal power plants scheduled to retire with six renewable sources of electricity: solar alone, solar firmed by battery energy storage systems (BESS) or natural gas, wind alone, and wind firmed by BESS or natural gas.
Affordable electricity has become top of mind for consumers, policymakers, voters and elected officials as electricity prices for the residential, commercial, industrial and transportation sectors averaged 6.7% higher in September compared to September 2024.
The reasons for these price increases vary from state to state, according to the study. Some of the most often mentioned reasons are higher demand for electricity caused by data centers and artificial intelligence, overall inflation, volatile fuel costs, weather-related grid repairs, supply chain problems, power plant retirements, shift to cleaner energy sources, expansion of the electric transmission system and flawed electricity market rules.
According to the study, almost 42 gigawatts of coal-fired generation (46 plants with 79 generating units) have retired or announced plans to retire during 2025 through 2028.
Last week, West Virginia Public Service Commission Chairwoman Charlotte Lane said the PSC has no plans to vote in favor of closing any coal-fired power plants in West Virginia. During that meeting with lawmakers, Lane also said nobody has filed to close any such plants.
America’s Power President and CEO Michelle Bloodworth said the new study shows why coal plants need to stay open.
“Americans are concerned about rising electricity prices, and this new study shows that keeping coal plants open, rather than retiring them, is a good way to avoid unnecessary increases in electricity prices,” she said. “The study estimates that continuing to operate retiring coal plants rather than building new renewable power sources could save at least $3 billion and as much as $54 billion per year.”
Bloodworth also said the huge cost savings do not quantify the loss of reliability attributes that coal provides and renewables do not.
“Policymakers need to understand that an all-of-the-above energy strategy that includes coal as an irreplaceable part of our electricity mix is crucial to maintaining affordable electricity prices and the reliability of our grid,” she said.

Read Full Article: https://justthenews.com/nation/states/center-square/study-shows-coals-importance-electric-affordability?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators