Wave of Coal Power Plant Closure Announcements Clouds Outlook for King Coal

SUGAR LAND, TEXAS--December 2, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--A new round of closure announcements for coal-fired power plants, plus a new lower estimate for coal use this year has further clouded the outlook for coal use in the U.S. electric power business. Coal use by electric generators is projected to fall 18% this year from 2019's consumption, according to the latest Short-Term Energy Outlook from the U.S. Energy Information Administration (EIA) (Washington, D.C.). Coal's share of the electric generation fuel mix will fall to 20% this year, from 24% in 2019, the agency said.

Companies featured: American Electric Power Company Incorporated (NYSE:AEP), Xcel Energy Incorporated (NASDAQ:XEL), WEC Energy Group Incorporated (NYSE:WEC), General Electric Company (NYSE:GE), Southern Company (NYSE:SO)