Michigan Utility Trading Coal for Gas-Fired Electric Plants

Consumers Energy, Michigan's second-largest power provider, will quit burning coal to produce electricity by 2025 and instead will purchase four existing natural gas-fired power plants for $1.3 billion. At least if the company can get approval from state regulators. The company says buying existing gas-fired plants (instead of building new plants) will help it transition to carbonless energy over the next 20 years. Buying instead of building means the company won't have "stranded assets" when (we say if) they eventually foreswear using fossil fuels to generate electricity.

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