Dive Brief:
- American Electric Power CEO Nick Akins has a vision for his business and it does not include reliance on coal-fired generation, which now makes up 66% of the utility's portfolio.
- “We see the future for us being natural gas, energy efficiency, smart grid activities and renewables,” he said last week at the Columbus Metropolitan Club.
- Akins said coal is being sidelined by the Environmental Protection Agency's proposed rules for new fossil-fueled generation.
Dive Insight:
The transition away from coal may not be so painful for AEP as much of its service territory happens to be located near some of the most productive shale natural gas formations in the nation.
