March 15, 2019 Read More →

Major Texas coal generator concedes ‘coal is on its way out’

Yahoo Finance:

The latest sign that coal is losing its sway in the U.S. power market: Vistra Energy Corp. — one of Texas’s largest power generators and coal plant owners — says that fossil fuel’s days are numbered.

“Coal is on its way out,” Vistra Chief Executive Officer Curtis Morgan said during a panel discussion. “More and more plants are being retired.”

And Morgan would know. The company has had to close four massive coal plants as their margins were squeezed out of the market by cheaper resources. Renewable energy is replacing them, and Morgan said he sees solar power in particular taking a bigger market share.

Solar and wind power together account for a quarter of Texas’s generation capacity and have sent electricity prices plunging below zero on some days.

More: Coal ‘on its way out,’ Vistra CEO says

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