American Electric Power co. Inc. (NYSE: AEP) CEO Nick Akins said the company would not be focusing on coal-fired power generation in the future, according to a report from Business First in Columbus, Ohio.
“We see the future for us being natural gas, energy efficiency, smart grid activities and renewables,” Akins said during a Columbus Metropolitan Club program, Business First reported.
Akins said coal is being “taken out of the picture” as a fuel used for power generation because of federal air quality regulations, according to the report.
AEP is retiring around 7,000 MW of coal-fueled power generation by early 2016.
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