NRG LAYOFFS HERALD FADING PTC HOPES

NRG Systems Reduces Headcount For The First Time

18 May 2012 (North American Windpower)

“Due to what it calls ‘ongoing uncertainty and volatility in the global wind energy industry,’ …wind energy assessment provider NRG Systems has laid off 18 workers - the first such layoffs in the company's 30-year history…

“According to NRG, although the U.S. wind industry has always weathered the boom-and-bust cycle of inconsistent federal policy, the stakes today are much higher, given the 400-plus manufacturing facilities and 75,000 employees supported by wind energy.”

click to enlarge

“After a decade of steady growth, the wind industry is being hampered by external forces, including an uneven playing field for U.S. energy subsidies, the looming expiration of the production tax credit for wind and abnormally low natural-gas prices…

“NRG [said] the layoffs - following cuts in company benefits, travel and other expenses - were made based on business need…The company [said] it is now better positioned for success when the market stabilizes.”

Tweet