- Jul 22, 2021 4:07 pm GMT
I've always thought of Missouri as being one of the last states standing when it comes to coal - along with Indiana, Kentucky, West Virginia and Wyoming. So, this is good news. The times they are a changing.
The bill will enable utility companies to close old coal plants more quickly and speed up their transition to renewables. The legislation will allow these companies to refinance debt they took on to build the plants without taking a financial hit through a process known as securitization. This process would remove a hurdle that companies like Ameren and Evergy have cited as hindering their move away from fossil fuels, even as they have verbally committed to doing so.
Instead of sending money out to Wyoming to bring in coal Missouri can use cheap in-state resources. It's a no-brainer.
Coal, virtually all of it shipped in by rail from out of state, accounted for 70% of electricity generation in Missouri last year, compared with just 9% from renewable sources like wind, solar and hydropower.
However, the coal-based proportion of Missouri’s energy grid in 2020 did represent a decrease from a high of 81% in 2010, and figures to continue its decline as utilities retire old coal-fired plants, switch them to natural gas or replace them with renewable sources.
In 2020 alone, the state roughly doubled its total wind power capacity, from about 1,000 to 2,000 megawatts, which means wind now accounts for over half of Missouri’s total renewable energy output
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