In an interview, American Electric Power (AEP) CEO Mike Morris talked about the need for a national electric grid. He said their grid is among the most robust in the world. It is old. But so is he. If you're well cared for, you can continue to work and work well. Last year, the investor-owned utilities put about $10 billion to work on the interstate transmission grid. But Ed Hill, who runs the International Brotherhood of Electrical Workers, is right, they need to continue to put that capital to work. Without question people ultimately need a backbone grid, not only to allow renewables to come into the equation but to minimize the amount of capital that's put in the next generation fleet to move power around. If he has the opportunity to speak to the President, he'll tell him to temper the administration's thinking to be more realistic about the balance between coal and renewables.
Electrify the Economy Jennifer Pellet Chief Executive; Mar/Apr 2009; 239; Docstoc pg. 14 Reproduced with permission of the cop
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