In an April 26th speech to business leaders at the U.S. Chamber of Commerce, Nick Akins, President and CEO of American Electric Power, urged the U.S. to develop a comprehensive energy policy.
Akins explained that a recent “perfect storm of circumstances” – including EPA regulations, diminished reliance on nuclear power, and low natural gas prices – are making natural gas the de facto favored fuel for power generation. This is a concern for Akins, who points out that natural gas prices have been volatile historically, and that relying on a single fuel source for power generation is risky. [Columbia Dispatch]
Akins believes reasonable, comprehensive policy is the solution. According to Free Enterprise, Akins said “One of the biggest challenges [for AEP] certainly from a regulatory perspective [is that] regulations tend to change based upon what administration is in place. Really we do need an element of consistency there. And really, in many cases, the regulations need to be a partner instead of in the way.”
Do you agree with Akins’ call for a comprehensive energy policy? What might such a policy look like? What would need to be in place to achieve such a policy?