Cramer Chats With American Electric Power CEO
Between tougher regulations and the low price of natural gas, Jim Cramer on Wednesday noted it’s become less economically practical to burn coal.
“In March, nat gas accounted for 30 percent of U.S. power generation — the highest level ever – while coal was at 34 percent — the lowest level since 1973,” Cramer reported on CNBC’s “Mad Money.” “This switch is happening a lot faster than even I expected and I’m a huge booster of natural gas.”
To learn more about the changes in the industry, Cramer reached out to American Electric Power. The Columbus, Ohio-based company operates the largest electricity transmission system in the United States, making it one of the nation’s top power generators.
American Electric Power is also the U.S.’s largest consumer of coal. Sixty-six percent of its generating capacity currently comes from coal. The company is trying to reduce its coal intake, though, and switch to natural gas.
To get a better sense of how American Electric Power’s transition to nat gas is going, Cramer welcomed CEO Nick Akins on Wednesday’s program. Watch the video to see the full conversation.
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