- Coal is not likely to regain market share in the U.S. power market.
- Other sources are now catching up with coal in terms of the overall costs.
- Vistra in the past year has closed four large coal plants that could no longer compete economically with cheaper power sources, including renewables.
The chief executive of Vistra Energy Corp last week said coal is not likely to regain market share in the U.S. power market. Curtis Morgan, in a panel discussion March 14 at the CERAWeek event in Houston, Texas, said “coal is on its way out. More and more plants are being retired.”
It’s not the first time Morgan has sounded the alarm for coal. He told CNBC in an interview in April 2018: “I don’t believe [coal]is going to have a renaissance. I think it’s on its way out. As much as I believe it is going to be part of the energy infrastructure around power, I believe that other sources are now catching up with coal in terms of the overall costs.”
Vistra is the parent company of TXU Energy, Homefield Energy, Dynegy, and Luminant. Vistra in the past year has closed four large coal plants that could no longer compete economically with cheaper power sources, including renewables. Morgan said he sees solar power taking a larger share of the power generation market. Vistra’s home state of Texas leads the nation in generation from wind.
Author: GBA News Desk
Source: Power
