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US energy giant says renewables and batteries beat coal, gas and nukes

October 09, 2019 / Giles Parkinson

The head of NextEra Energy, the biggest and most successful utility in the United States says the energy industry is in the grip of massive change, with the cost of renewables and battery storage – without subsidies – beating gas, as well as existing coal and nuclear on costs. “We see renewables plus battery storage without incentives being cheaper than natural gas, and cheaper than existing coal and existing nuclear,” Jim Robo, the CEO, president and chairman of NextEra, told analysts last week at the Wolfe Utilities & Energy Conference. “And that is game changing,” Robo said. So much so, that renewables would likely replace coal generation in the US within a decade. To put these comments into context, NextEra is a huge company with $US17 billion ($A25 billion) of revenues, 46GW of energy assets, and 14,000 employees, and a market value of around $US114 billion ($A170 billion). In short, it’s nearly as big as the entire Australian grid. Robo noted that the US government’s Energy Infor...