NextEra CEO: Renewables are needed to bridge the gap between expanding gas power and increasing renewables

NextEra CEO John Ketchum said on Tuesday that renewable energy sources such as wind and solar power will be needed to meet the rapidly increasing energy demand in America, despite near-term challenges to increasing natural gas capacities.

At the Politico Energy Summit, the head of Florida's power producer stated that the high cost to acquire gas turbines and a shortage in construction workers, along with the tariff costs, will make it take seven years or more to bring new gas-fired plants online.

Ketchum stated that "we need a bridge in order to get to 2032, when the gas will be available... and when it does arrive, it will be three times as expensive as it has ever been."

If we don't consider renewables, there will be a serious power shortage in this country.

Last month, U.S. House members narrowly approved a budget reconciliation measure that would eliminate clean energy tax credit, reduce spending on renewables and clawback other climate-related funding.

Ketchum stated that the House bill is being debated in the Senate and will shorten the time for developers to complete and start new clean energy projects and qualify for tax incentives.

Ketchum's remarks reverse a oft-repeated defence of natural gas by the fossil fuel industry in previous administrations that sought to combat climate change. The fuel was framed as a bridge towards a renewables driven carbon-free energy systems.

Trump is against renewable energy subsidies, and wants to increase production of coal, oil and gas. He declared an "energy crisis" to increase fuel and electricity production in order to meet the growing demand for power to run data centers and artificial intelligent. Reporting by Valerie Volcovici, Editing by Mark Potter

(source: Reuters)