The 54,019MWe was about three-quarters of the plants expected to come online in 2002, showing the impact of spending cuts at some utilities. Nearly all of the new plants are fuelled by natural gas. Over 175GWe of new generation was put on hold or cancelled during 2002, which has significantly decreased the amount of capital spending and projects that will start up in 2003. Despite the increasing amount of project cancellations that continue to occur in the power industry, a record amount of capital spending is still on track for 2003.
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