ALEXANDRIA, Va., April 3, 2008 /PRNewswire-USNewswire/ -- According to the
new Power Capital Costs Index (PCCI) developed by IHS Inc. and Cambridge
Energy Research Associates (CERA), the costs associated with building a new
advanced coal plant are the lowest when compared to other electricity
generating facilities.
The PCCI, which is a proprietary measure of project cost inflation similar
in concept to the Consumer Price Index, rates nuclear cost index highest at
285. Wind is second highest at 195, while gas comes in third at 190. Coal
cost index is the lowest at 172. In other words, coal is the least expensive
option when it comes to power plant construction.
That there are more than 120 coal-fueled power plants in the U.S.
currently under or near construction, permitted, or in the early stages of
development, further reinforces the PCCI and refutes any notion that coal is
on its way out.
Joe Lucas, executive director of Americans for Balanced Energy Choices
(ABEC), said coal will remain the lowest cost option even with advancing
technology. "As we continue to develop clean coal technologies, including
carbon capture and storage (CCS) the eventual capital cost to build new coal-
based power plants will come down even further," Lucas said.
Additionally, the Coal Utilization Research Council (CURC) reports that
with increased technology development and a boost in federal funding, future
clean coal technologies such as Pulverized Coal (PC) and Integrated
Gasification Combined Cycle (IGCC) systems will be highly competitive and will
actually reduce the cost of producing electricity with near-zero emissions.
"We can achieve these goals only if we continue to focus on the investment
in advanced clean coal technologies - something that our industry strongly
supports," Lucas said. "I also know that for those who are most pessimistic
about coal's future, the idea of driving down the cost of technology sounds
counter-intuitive, but that's exactly what we've seen happen over the last 35
years," he said. "New technologies made it possible to meet more stringent
environmental standards and still kept energy costs low for the consumer."
Americans for Balanced Energy Choices is a non-profit, non-partisan group
that promotes a dialogue with community leaders across the nation to discuss
balancing America's growing demand for electricity with the need to protect
the environment. ABEC counts more than 150,000 members nationwide. Because of
its prominence in the nation's energy mix, electricity from coal is a major
focus of the dialogue. The Web site is www.americaspower.org.
SOURCE Americans for Balanced Energy Choices
Cullen West, +1-703-302-1224, cwest@cleancoalusa.org, for Americans for
Balanced Energy Choices
