NewEnergyNews: New Energy Economics Close A Coal Giant

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    Thursday, November 21, 2019

    New Energy Economics Close A Coal Giant

    A Massive Coal Plant That Asked for Trump’s Help Has Gone Dark

    Will Wade, November 18, 2019 (Bloomberg News)

    “…[T]he unraveling economics of coal proved too much for even a giant among power generators to handle…[After churning out electricity for almost five decades, the 2.25-gigawatt Navajo Generating Station,] the largest coal-fired power plant in the western U.S. permanently closed, becoming the latest testament to the [failure of White House efforts to stop] fossil fuel’s decline… [Local leaders asked] the president to fulfill his campaign promise to revive America’s Coal Country…[but the Navajo complex in the Arizona desert] proved no match against market forces. The shale boom unleashed record volumes of low-cost natural gas, undermining the economics of coal generators across the U.S. Cheaper and cleaner wind and solar farms also began squeezing the plant’s profits…

    Since 2010, power generators have announced the retirement of more than 500 coal-fired power plants with more than 100 gigawatts of capacity…Salt River Project. Arizona Public Service Co., NV Energy and Tucson Electric Power, the owners of the Navajo plant,] have agreed to make lease payments totaling about $110 million to the Navajo Nation so the site can be decommissioned [over the next three years and] monitored and operated as part of the region’s transmission system…Peabody Energy Corp., the biggest U.S. coal producer, has already shut the Kayenta mine -- on Navajo and Hopi tribal lands -- that supplied the plant…” click here for more

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