General Electic, opened the first AC coal-fired power plant in the United States in 1902 and spent the following century becoming a leader in manufacturing these plants both in the United States and worldwide. That line of business, however, is coming to an end, as GE announced that they’re leaving coal behind and looking ahead to newer, cheaper, and cleaner methods of electricity generation. After fulfilling their existing obligations in the coal business, it seems that GE will look to bolster its existing nuclear and wind divisions.
Despite efforts from the Trump administration to bolster the coal industry, market forces have pushed utilities to cheaper, cleaner forms of electricity, with many utilities opting to retire coal-fired power plants early. Last year coal production fell to the lowest level since 1978, according to data released by the U.S. Energy Information Administration.
“GE’s steam power business will work with customers on existing obligations as it pursues this exit, which may include divestitures, site closings, job impacts and appropriate considerations for publicly held subsidiaries.”
Read more in The Hill: “GE to stop producing coal-fired power plants”