Wind can’t replace coal, especially in NIPSCO’s service region. BURN MORE COAL will be pressing this issue with NIPSCO, a subsidiary of NiSource.
Uh… NiSource CEO Joe Hamrock… did you miss the polar vortex?
NIPSCO
BURN MORE COAL files shareholder proposal with NIPSCO
NIPSCO has announced its intention to exit coal by 2028. We want NIPSCO to explain to shareholders how the claim, below, is a benefit to anyone or anything.
Continue reading BURN MORE COAL files shareholder proposal with NIPSCO
BURN MORE COAL in the news…
NIPSCO’s plan will cost shareholders and customers alike, says Fred Palmer, managing director of Burnmorecoal.com and a Heartland Institute senior fellow. “NIPSCO’s proposal to replace all coal-fired generation within 10 years with higher-cost renewables comes without a legitimate business or environmental reason to take this action,” said Palmer. “Customers will be punished, and shareholder wealth will be squandered as NIPSCO’s plan, with its new high-price rate structure, drives manufacturing overseas to China-led Asia, where new coal plants are being built and existing low-cost coal generation is booming.”
NIPSCO dubiously claims cost savings from shuttering coal plants
These alleged cost-savings are prospective and imaginary — so current management will not be held to account when they don’t materialize. Moreover, they depend on a non-existent price for CO2 as well as subsidy farming. There is no cheaper source of electricity than maintaining existing coal plants.
NIPSCO to abandon coal by 2028
NIPSCO joins the Electric Utility Hall Of Shame with this announcement. Replace coal with unreliable and expensive wind/solar backed up by nonexistent battery technology? Give us a break. There is no business nor environmental reason to take this action and the risk to customers and shareholders is real. High prices for sure and perhaps scarcity, too. Not to mention loss of manufacturing load to China led Asia where coal continues to rule with new plants on the way. From the NIPSCO media release:
