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Press Release, David Schlissel and Dennis Wamsted
Study details lack of economic feasibility around North American initiatives; costly and/or failed efforts at Duke’s Edwardsport, NRG’s Petra Nova, SaskPower’s Boundary Dam, and Southern Co.’s Kemper plant; technology seen as unworkable and too expensive for fast-changing electricity-generation markets
Nov. 19, 2018 (IEEFA) — A study published today by the Institute for Energy Economics and Financial Analysis concludes that costly efforts undertaken in North America to develop workable, economic technology to capture carbon from coal-fired generation have come up short. Further, the study concludes that technology developments in the renewable energy and natural gas sectors […]
IEEFA
Energy News Network: Duke Energy’s coal gasification plant in Edwardsport, Indiana has overcharged ratepayers by $1.4 billion since opening in 2013, according to expert testimony filed last week by a consumer group asking state regulators to demand a new accounting of how much ratepayers should be charged for the plant. The Citizens Action Coalition filed […]
IEEFA
Indianapolis Business Journal: A consumer group is calling on Indiana utility regulators to revoke or modify approval of Duke Energy Corp.’s massive Edwardsport power plant, saying it is costing Indiana ratepayers too much money and has fallen far short of the company’s promises for producing low-cost electricity since going into service in 2013. Citizen Action […]
David Schlissel
A multibillion-dollar hit to Indiana ratepayers
Duke Energy’s 5-year-old gasified coal power experiment in Edwardsport, Ind., has turned out to be a catastrophe for ratepayers. That’s the main conclusion of the testimony I submitted yesterday to the Indiana Utility Regulatory Commission on the plant, which was sold at the outset as a cost-effective integrated gasification combined cycle (IGCC) project that burns […]
IEEFA
Charleston Post and Courier: Over the past decade, state legislatures across the country rewrote rule books for how power companies pay for new power plants, shifting financial risks away from electric companies to you and everyone else. This rule change ignited a bonfire of risky spending — $40 billion so far on new power plants […]
Press Release and David Schlissel
‘Important and Painful Lessons’ in Southern Company’s Kemper Failure in Mississippi and Duke Energy’s Edwardsport Experiment in Indiana
Sept. 7, 2017 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) today published a report describing how coal-to-gasification technology for electricity-generation purposes remains commercially unviable. The report—“Using Coal Gasification to Generate Electricity: A Multibillion-Dollar Failure”—concludes that two long-running marquee American Integrated Gasification Combined Cycle (IGCC), projects, Duke Energy’s Edwardsport plant in Indiana […]
Sandy Buchanan
Mississippi Regulators Say Enough is Enough; Kemper Plant is One of Long Line to Chase the Clean Coal Myth
Long overdue news broke last week that that the Southern Company will no longer burn coal at the Kemper County “clean coal” plant. Mississippi regulators had told the company they would no longer allow a blank electricity ratepayer check for construction of the plant. In chasing the myth that any new coal-fired power could become […]
David Schlissel
Construction Delays and Budget Overruns; Productivity Problems; High Operating Costs
If the “clean coal” integrated gasification combined cycle (IGCC) technology promoted at home and abroad by the U.S. utility industry sounds too good to be true, it’s because it is. That’s why Moody’s Investors Services warned the other day that it might downgrade the credit of Mississippi Power Company because of the declining competitiveness of […]
IEEFA
Tom Lutey for the Billings Gazette: Wyoming Gov. Matt Mead joined Bullock in listing the carbon capture opportunities of the dual state project, which is included in a 14-state report listing carbon capture opportunities. “Capture of CO2 from power plants for use in enhanced oil recovery can provide economic, environmental and national security benefits long […]
IEEFA
Matthew Bandyk for SNL: Arbitrators have found for General Electric Co. and Bechtel Corp. on all claims in a dispute with Duke Energy Indiana Inc. regarding the construction of the 618-MW Edwardsport integrated gasification combined-cycle facility, one of the most expensive power plants ever built by Duke Energy Corp. This information came in what the […]
IEEFA report: ‘Holy Grail’ of carbon capture continues to elude coal industry; ‘cautionary tale’ applies to domestic and foreign projects alike
Study details lack of economic feasibility around North American initiatives; costly and/or failed efforts at Duke’s Edwardsport, NRG’s Petra Nova, SaskPower’s Boundary Dam, and Southern Co.’s Kemper plant; technology seen as unworkable and too expensive for fast-changing electricity-generation marketsNov. 19, 2018 (IEEFA) — A study published today by the Institute for Energy Economics and Financial Analysis concludes that costly efforts undertaken in North America to develop workable, economic technology to capture carbon from coal-fired generation have come up short. Further, the study concludes that technology developments in the renewable energy and natural gas sectors […]