AEP CEO: U.S. needs new electric authority

OKLAHOMA CITY, May 5 (UPI) -- The United States could be facing a critical electricity shortage if new plants aren't built, says AEP Chairman, President and CEO Michael Morris.

Morris is urging the federal and state governments to take measures to ease construction of new electrical generation plants, the Journal Record reported.

"My biggest fear in this country is that the leaders will dilly and dally until it becomes a nightmare and then we'll make every mistake we possibly can," Morris said.

Morris insisted that in order to avoid a crisis similar to the one being faced in South Africa, the United States needs to create a sweeping energy agency with authority like the Federal Reserve.

Morris said it is unacceptable for a company to spend 18 years building a 90-mile test line for new transmission technologies. He said it took AEP 16 years to get all of the required permits for that line.

Continuing energy competition with China, India and other developing nations will require development of new, more efficient energy usage technologies, like nuclear, wind and solar, but development requires further advancement and AEP already faces construction of a new central power station every two to three years to meet continued demand.