On the Blogs: Keeping Aging Coal Plant Online in Texas Will Cost $100 Million

first_img FacebookTwitterLinkedInEmailPrint分享Rivard Report:CPS Energy‘s newest coal plant at Calaveras Lake operated at a $135 million loss in 2015 and 2016, according to a new report by a Massachusetts-based utility research firm. The report states that the public utility would save money if it closed the plant and instead invested in renewable energy sources – by purchasing power off the grid or building more of its own wind and solar capacity.“Furthermore, CPS Energy could lose $100 million more in the next few years if it continues current operations,” said Avi Allison, an economics expert and author of the report by Synapse Energy Economics, on Thursday. The firm’s report was commissioned by the Sierra Club’s Beyond Coal campaign, which seeks to replace coal-based power production with cleaner energy.But shutting down the plant southeast of San Antonio is not an option, CPS Energy officials said in response to the report, because it provides reliable, baseline energy that wind and solar cannot.“We don’t disagree with report’s overall perspective that the market is moving away from coal,” CPS Energy Chief Operating Officer Cris Eugster told the Rivard Report on Thursday. “The challenge of [retiring the plant] is if you shut it down, without energy storage, you can’t run a city on solar today.”The utility has made great strides in diversifying its energy portfolio, Eugster said, including next year’s shutdown of the older J.T. Deely 1 and 2 coal-fired units – 15 years ahead of schedule – instead of installing $550 million scrubbers. CPS Energy purchased a natural gas plant in 2010 to offset capacity loss from Deely.Seven years ago, 80% of electricity consumed by CPS Energy customers was from coal or nuclear power plants. By investing more in renewables, natural gas, and other sources, the 2016 energy portfolio is vastly different: about 30% nuclear, 27.6% coal, 24% natural gas, 10.6% wind, 2% solar, and 4.8% purchased power. CPS Energy also has been able to realize a 3% savings from energy efficiency and demand-response initiatives, Eugster said.CPS Energy acknowledges that the Spruce units cost more money than they produce energy, he said, but they are still needed to “bridge into renewables.”When demand can be covered by wind, solar, and other sources, the coal plant is dialed down. But peak load times when the wind isn’t blowing and the sun isn’t shining is when the coal plant needs to be ramped up, Eugster said. And the price of natural gas continues to be a factor.More: Coal Plant Losing Money, But CPS Energy is Keeping it – For Now On the Blogs: Keeping Aging Coal Plant Online in Texas Will Cost $100 Millionlast_img read more

The importance of open architecture in credit union technology

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr One of the topics of recent conversation in credit union technology has revolved around the impact Millennials are having on the financial industry. Within the next few years, this tech-savvy group will represent close to 75% of the workforce and is becoming an influential part of the financial world. Keeping pace with the ever-changing face of credit union technology is vital to attracting Millennial members. The credit union industry has had to evolve to be able to offer the tools and technology members demand and what once was thought of as taboo in the industry, credit union APIs are now crucial to satisfying current technology needs and staying relevant. A core data processing system with a robust API allows for credit union open architecture so that you can offer the best-of-breed products that might otherwise be unavailable.Staying RelevantBeing able to offer up-to-date technology and engage with the latest applications is important to staying at the forefront of your competition. For example, industry trends are showing that more and more people, many of them Millennials, are using non-traditional alternative banking tools. Alternative payment options such as Venmo, PayPal, and Applepay are just some of these third-party applications to offer this. FICO recently reported that an estimated 52% of Millennials and 27% of Baby Boomers are using these forms of payment. Having the ability to engage third parties via an API, and being able to offer additional options to your members is a great reason to seek a core processor with open architecture. continue reading »last_img read more