How GE lost its gamble on fossil fuel power [Seeking Alpha]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Seeking Alpha
How GE lost its gamble on fossil fuel powervia Alwyn Scott at ReutersLast March, executives at General Electric's (GE+2.3%) power-plant business gave Wall Street a surprisingly bullish forecast for the year. But rather than rising, GE Power's profit fell 45%, forcing GE to slash its overall profit outlook and cut its dividend for only the second time since the Great Depression.What GE has not emphasized is that wind and solar now cost substantially less than gas and other conventional energy sources - and have for years, according to a widely respected energy cost report Lazard has published since 2008.Industry experts also explain that GE's gas power plants are mainly older F-Class units, rather than the new, larger H-Class turbines. Older gas-fired plants often cannot compete with wind and solar, especially when governments provide subsidies.Click to subscribe to real-time analytics on GENow read:General Electric: What To Look For In 2018 »
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GE
Earnings
- 1/23/24 - Beat
GE
Sec Filings
- 4/15/24 - Form 3
- 4/15/24 - Form 3
- 4/15/24 - Form 3
- GE's page on the SEC website