Friday, June 23, 2006

GE's Immelt sees only small premium for coal gasification plants

In a bid to heighten interest in integrated gasification combined cycle plants, GE CEO Jeffrey Immelt contends the closely-watched technology is on the verge of commercialization. He told the Edison Electric Institute's annual meeting this week (June 20) in Washington that GE can help lower the cost of "IGCC" plants to "just a slight premium" to traditional pulverized coal. "We need to help make energy and energy technology a core competency of the country ... and to do that it means driving new coal technology now," he said. "Don't use the excuse that it's not ready. Assume it's ready and let's get it going," Reuters quoted him as saying.

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