OH Electric Generator Cuts Residential Sales in Favor of Shale

President Obama’s war on coal, and indeed all fossil fuels, is affecting electric utility companies. But not all electric generating companies are suffering–at least suffering from loss of profits. One such company, American Electric Power (AEP) from Ohio, made more profit in the second quarter of 2015 than it did in 2Q14–$40 million more. And they did it while shutting down enough coal-fired electric plants to serve 5.5 million homes across the Marcellus/Utica region. Who cares if there’re rolling blackouts because Obama’s war on coal is causing electric plants serving residential homes to shut down, right? How does AEP actually make *more* money when up to 5.5 million potential customers are now not being served with electricity? By swapping out electricity sold to residential customers with selling to a different kind of customer: the natural gas industry itself. AEP has added a number of new customers in the oil/natural gas industry, like compressor stations…

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