Morgan Stanley forecasts 70K-190K MW of coal-fired generation is “economically at risk” from the deployment of a “second wave of renewables” in the U.S. “Driven by the surprisingly low cost of renewables, we believe that carbon-heavy utilities that have not historically led the pack in clean energy deployment will accelerate their earnings growth by pursuing a ‘virtuous cycle’: shutting down expensive coal plants and investing in cheap renewables,” Stanley analysts say, seeing American Electric Power (NYSE:AEP), Dominion Energy (NYSE:D), Southern Co. (NYSE:SO), Pinnacle West (NYSE:PNW), PPL Corp. (NYSE:PPL) and Duke Energy (NYSE:DUK) as the utilities with the “largest opportunity” to achieve a valuation rerating under this approach. “Now there is a much greater opportunity to achieve kind of a triple-bottom-line benefit in the sense of customers [through lower bills], the environment and shareholders,” Morgan Stanley’s Stephen Byrd tells S&P Global Platts. “There is an opportunity now that we think some utilities will seize… the benefit that other utilities have achieved with their shar...