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Wall Street Journal (Paywall):
Just last summer, Northern Indiana Public ServiceCo. planned to retire two of its five remaining coal-fired power plants by 2023. Now, it plans to do away with all of them over the next decade, and buy more solar and wind power instead.
The Midwestern company’s decision is part of a shift among some American utilities toward less costly energy sources. The companies are accelerating the closure of coal plants, as wind and solar power become more economical alternatives, aided by federal subsidies, and natural gas continues to be a cheap fuel for electricity in the U.S., thanks to the shale-drilling boom.
Northern Indiana Public Service, part of NiSourceInc., concluded that phasing out coal sooner was worth it because it would move the company to what is becoming a cheaper source of power, and ultimately reduce costs for its 470,000 customers…
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