Two formidable U.S. coal power generators this week separately revised their their carbon dioxide emissions reduction targets. Duke Energy announced it would seek to go to net-zero by 2050. American Electric Power (AEP), meanwhile, said it would extend its target from 60% to 70% from 2000 levels by 2030, and by more than 80% by 2050—but it also outlined an “aspirational emissions goal” of “zero emissions by 2050.”
Both companies cited customer preferences and risk mitigation as reasons for the steep carbon cuts. But while they recently exited competitive wholesale markets to contain risks, both companies also announced they are actively investing substantially in renewables sited in competitive markets.