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The Tennessee Valley Authority plans to stay the course on reducing its dependence on coal, even under the Trump Administration, which is expected to loosen environmental controls.
There are new federal rules that haven't been finalized just yet that would make power companies like TVA move away from coal for cleaner burning fuels, like natural gas and renewable sources like wind and solar. But CEO Bill Johnson says the utility will continue heading in that direction, if for no other reason than because it's the economical choice at the moment as natural gas is particularly cheap.
"We have been following a path that is consistent with the direction of the Clean Power Plan, but we've been following it based on what's the best for our customers," Johnson told analysts and reporters on a conference call this week.
More: See TVA's financial presentation made this week
What's good for the rate-payers also happens to "line up" with what's good for air quality, he said. TVA has been using economic factors to make decisions like the choice to build more combined-cycle natural gas plants.
"And that's really what we'll continue to do," Johnson said.
Ten years from now, TVA still plans to have coal-fired power plants account for just 15 percent of its electricity generation. Less than a decade ago, coal made up 58 percent.
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