AEP sees coal-to-gas switching reversing as natgas prices rise
NEW YORK |
NEW YORK Oct 24 (Reuters) - American Electric Power Co Inc says it has seen some switching of electricity generation back to coal from natural gas as gas prices have risen.
Once gas prices rise to between $3.00 and $3.25 per million British thermal units (mmBtu) "you start to see a switch back to coal," a company executive said during an earnings conference call on Wednesday.
New York Mercantile Exchange natural gas futures prices have remained above $3 per mmBtu since the end of September.
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