A diverse energy mix including coal and nuclear power is a key requirement for US electricity generation if the country is to maintain a cost-effective power supply, IHS Markit said Tuesday. The analytical firm warned Tuesday “policy-driven market distortions” are creating a less efficient power supply that could cost the US economy 0.8% of gross domestic product and 1 million jobs. The current diversified nature of the electricity supply lowers production costs by $114 billion a year and cuts retail prices by 27%, IHS Markit said in a report. However, the current direction of investment suggests “some US power systems will have no meaningful contributions from coal or nuclear resources and a smaller contribution from hydroelectric resources.” Article continues below… Platts Megawatt Daily provides you with timely and relevant North American electric power information. This market report is a valuable asset for any player in electric power and will […]