To Balance Energy Demand, We Need Nuclear Power

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Investors Business Daily:

Should America's new growing dependence on natural gas for electricity production be a cause for concern?

 

Despite America's abundance of natural gas from shale production, some parts of the country have already had warnings that over-dependence on gas for electricity generation exposes consumers to soaring prices for electricity.

 

The problem is the declining use of coal and nuclear power, the two sources of electricity that provide the greatest price stability and serve as a hedge against wide fluctuations in gas prices.

 

For the power industry to become increasingly dependent on a fuel with a history of price volatility could be problematic.

 

Take PJM, the regional grid operator that covers the mid-Atlantic and parts of the Midwest. When plunging temperatures in the recent cold snap drove up demand for gas, spot prices for electric power in New Jersey, Delaware and large parts of Pennsylvania skyrocketed to $1,500 per megawatt-hour, well above the typical price of $40 or $50.