It appears all the president’s men can’t put King Coal back together again.
Once again, US electric utilities have collectively yawned at a Trump Administration proposal to revive coal-fired power in the US, this time by stripping away regulations on plant upgrades to discourage shutdowns of older facilities.
Formerly one of the world’s largest users of coal, Duke Energy (NYSE: DUK) this month filed in North Carolina to speed up the closure of three large facilities by six years to 2024. The utility now plans to ultimately replace all coal capacity with cheaper natural gas, and a combination of wind, solar and energy storage increasingly favored by its regulators.
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