In the News: Matt Lewis on the transition from Coal to Natural Gas May 20, 2015
Economics Professor Matthew Lewis was interviewed in the Asheville Citizen-Times on Duke Energy's replacement of a coal-fired electricity plant at Lake Julian with a new facility fueled by natural gas.
Natural gas prices have decreased from $8 per thousand cubic feet in 2008 to $3 today. Lewis argues that electric utilities now view low natural gas prices as a persistent trend that will continue through the next decade. This cheaper fuel source, combined with increased regulatory burdens on burning coal are driving the shift from coal to natural gas in electricity production.