N-power is expensive: says General Electric CEO

Jeff Immelt said that most countries were shifting to gas and wind as two main sources of electricity.

Written by Agencies | London | Published: July 31, 2012 4:42:29 pm

The chief executive of General Electric – one of the American companies keen to sell nuclear power reactors to India – says that nuclear power is so expensive compared with other forms of energy that it has become “really hard to justify.

In an interview with a news daily,chief executive

Jeff Immelt said that most countries were shifting to gas and wind as two main sources of electricity.

“It’s really a gas and wind world today… When I talk to the guys who run the oil companies they say look,they’re finding more gas all the time. It’s just hard to justify nuclear,really hard. Gas is so cheap and at some point,really,economics rule,” he said.

He added: “So I think some combination of gas,and either wind or solar that’s where we see most countries around the world going.”

The financial daily said that Immelt’s comments underlined the impact on the global energy landscape of the US shale gas revolution,Japan’s 2011 Fukushima nuclear meltdown and falling prices for some types of renewable power.

For all the latest News Archive News, download Indian Express App