Latest news with #Ketchum
Fast Company
3 days ago
- Business
- Fast Company
IRL > Algorithm: The Future of Socialization
Jeff Beer speaks with Giles Hedger, the global consumer planning director at Diageo; Rachel Rix, the chief growth officer at Ketchum; and James Kirkham, the founder and CEO at Iconic, about how AI and algorithms are making culture vanilla.
Yahoo
10-06-2025
- Business
- Yahoo
Energy powerhouse to Republicans: Don't ‘take renewables off the table'
The head of the one of the nation's largest power providers said he agrees with Republicans on the need for the United States to bring back domestic manufacturing and to win the AI race. But the GOP bid to repeal clean energy tax credits, attack China using trade rules and boost the nuclear and coal industry will make their goal to dominate in energy impossible. NextEra Energy Chair and CEO John Ketchum told the POLITICO Energy Summit on Tuesdaythat the anticipated surge in power demand over the next 20 years could make the country vulnerable to energy shortages and reliability problems if 'we take renewables off the table.' 'We cannot afford to do that. If we do that, we will lose the AI race, and we will bring this economic expansion in the United States to a screeching halt,' said Ketchum, whose FPL utility subsidiary is the power provider for President Donald Trump's Mar-a-Lago home in Palm Beach, Florida. High costs and long timelines to build new natural gas and nuclear plants — both of which GOP members have championed — mean neither source will be able to meet the growth in demand until 2032 or later, Ketchum said, so policy needs to companies like his can tap into a variety of energy sources. 'Our job at NextEra is to get electrons on the grid, I don't care what flavor they are,' he added. 'I don't care if it's renewables, gas or nuclear, I have to get electrons on the grid to accommodate all of the demand that we see in this country and do it at a reasonable cost.' NextEra is the nation's biggest owner of natural gas-fired power plants and the world's leading generator of electricity from wind and solar power. On the House Republicans' megabill, he said that the "foreign entity of concern" provisions that disqualify projects from receiving any tax credits if they have ties to China are 'unworkable' and impossible to comply with. When it comes to meeting America's needs, Ketchum said Republicans need to focus on equipment at a 'component level' and design a policy that is feasible for manufacturing companies to abide by. Relying on coal is not the answer either, Ketchum said. Trump has signed sweeping executive orders to try to boost coal, the dirtiest fossil fuel, including drawing on emergency powers to reinvigorate a coal industry that has been struggling for decades because of tightening environmental regulations and competition from less-expensive natural gas and renewables. For Ketchum, Trump's bid to revive coal is 'not going to make a dent.' He pointed out how many coal facilities have already been retired and how costly it is for consumers and utility companies to depend on coal for energy. 'The train has already left the station on coal,' he said.
Politico
10-06-2025
- Business
- Politico
Energy powerhouse to Republicans: Don't ‘take renewables off the table'
The head of the one of the nation's largest power providers said he agrees with Republicans on the need for the United States to bring back domestic manufacturing and to win the AI race. But the GOP bid to repeal clean energy tax credits, attack China using trade rules and boost the nuclear and coal industry will make their goal to dominate in energy impossible. NextEra Energy Chair and CEO John Ketchum told the POLITICO Energy Summit on Tuesday that the anticipated surge in power demand over the next 20 years could make the country vulnerable to energy shortages and reliability problems if 'we take renewables off the table.' 'We cannot afford to do that. If we do that, we will lose the AI race, and we will bring this economic expansion in the United States to a screeching halt,' said Ketchum, whose FPL utility subsidiary is the power provider for President Donald Trump's Mar-a-Lago home in Palm Beach, Florida. High costs and long timelines to build new natural gas and nuclear plants — both of which GOP members have championed — mean neither source will be able to meet the growth in demand until 2032 or later, Ketchum said, so policy needs to companies like his can tap into a variety of energy sources. 'Our job at NextEra is to get electrons on the grid, I don't care what flavor they are,' he added. 'I don't care if it's renewables, gas or nuclear, I have to get electrons on the grid to accommodate all of the demand that we see in this country and do it at a reasonable cost.' NextEra is the nation's biggest owner of natural gas-fired power plants and the world's leading generator of electricity from wind and solar power. On the House Republicans' megabill, he said that the 'foreign entity of concern' provisions that disqualify projects from receiving any tax credits if they have ties to China are 'unworkable' and impossible to comply with. When it comes to meeting America's needs, Ketchum said Republicans need to focus on equipment at a 'component level' and design a policy that is feasible for manufacturing companies to abide by. Relying on coal is not the answer either, Ketchum said. Trump has signed sweeping executive orders to try to boost coal, the dirtiest fossil fuel, including drawing on emergency powers to reinvigorate a coal industry that has been struggling for decades because of tightening environmental regulations and competition from less-expensive natural gas and renewables. For Ketchum, Trump's bid to revive coal is 'not going to make a dent.' He pointed out how many coal facilities have already been retired and how costly it is for consumers and utility companies to depend on coal for energy. 'The train has already left the station on coal,' he said.
Yahoo
10-06-2025
- Business
- Yahoo
NextEra CEO says renewables needed as bridge to expanding gas power
By Valerie Volcovici WASHINGTON (Reuters) -Renewable energy sources like wind and solar power are needed to meet rapidly growing energy demand in the United States amid near-term obstacles to increasing natural gas capacity, said NextEra CEO John Ketchum on Tuesday. The head of the Florida-based power producer said at the Politico Energy Summit that competition and high costs to obtain gas turbines, a construction labor shortage, and the costs associated with tariffs mean that it will take at least seven years to get new gas-fired power plants online. "We need a bridge to get ourselves to 2032 when that gas shows up ... And when that gas shows up, it's going be three times more expensive than it's ever been," Ketchum said. "If we take renewables off the table, we are going to have a real power shortage problem in this country." U.S. House lawmakers narrowly passed a budget reconciliation bill last month that would phase out clean energy tax credits, slash spending on renewables, and claw back other climate-related funds. The House bill, which is now being debated by the Senate, shortens the window for developers to start and complete new clean energy projects to qualify for tax credits, and makes the incentives unworkable, Ketchum said. Ketchum's comments reverse an oft-repeated defense of natural gas in the fossil fuel industry during previous administrations seeking to fight climate change that had framed the fuel as a bridge to a renewables-driven carbon-free energy system. Trump opposes renewable energy subsidies and wants to expand production of oil, gas and coal. He has also declared an "energy emergency" to spur more fuel and electricity production, in part to meet growing demand for power for data centers and artificial intelligence. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-06-2025
- Business
- Yahoo
NextEra CEO says renewables needed as bridge to expanding gas power
By Valerie Volcovici WASHINGTON (Reuters) -Renewable energy sources like wind and solar power are needed to meet rapidly growing energy demand in the United States amid near-term obstacles to increasing natural gas capacity, said NextEra CEO John Ketchum on Tuesday. The head of the Florida-based power producer said at the Politico Energy Summit that competition and high costs to obtain gas turbines, a construction labor shortage, and the costs associated with tariffs mean that it will take at least seven years to get new gas-fired power plants online. "We need a bridge to get ourselves to 2032 when that gas shows up ... And when that gas shows up, it's going be three times more expensive than it's ever been," Ketchum said. "If we take renewables off the table, we are going to have a real power shortage problem in this country." U.S. House lawmakers narrowly passed a budget reconciliation bill last month that would phase out clean energy tax credits, slash spending on renewables, and claw back other climate-related funds. The House bill, which is now being debated by the Senate, shortens the window for developers to start and complete new clean energy projects to qualify for tax credits, and makes the incentives unworkable, Ketchum said. Ketchum's comments reverse an oft-repeated defense of natural gas in the fossil fuel industry during previous administrations seeking to fight climate change that had framed the fuel as a bridge to a renewables-driven carbon-free energy system. Trump opposes renewable energy subsidies and wants to expand production of oil, gas and coal. He has also declared an "energy emergency" to spur more fuel and electricity production, in part to meet growing demand for power for data centers and artificial intelligence. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
