Trump readies new plan to aid coal and nuclear power

Trump readies new plan to aid coal and nuclear power

Depending on what the Trump administration decides, an intervention to prop up unprofitable coal and nuclear plants could cost consumers between $311 million to $11.8 billion per year, according to a preliminary estimate by Robbie Orvis, director of energy policy design at Energy Innovation.

White House press secretary Sarah Huckabee Sanders told Bloomberg News in a statement that the president had ordered the Department of Energy (DOE) to take the measures due to a national security interest in securing the national power grid's resilience.

Citing national security concerns, US President Donald Trump's administration is working on a fresh plan to subsidize coal and nuclear plants, a move critics say is unnecessary and will drive up energy costs.

Over dozens of pages, the memo makes the case for action, arguing that the decommissioning of power plants must be managed for national security reasons and that federal intervention is necessary before the USA reaches a tipping point in the loss of essential, secure electric generation resources.

Trump administration officials are making plans to order grid operators to buy electricity from struggling coal and nuclear plants in an effort to extend their life, a move that could represent an unprecedented intervention into US energy markets.

The memo added that "federal action is necessary to stop the further premature retirements of fuel-secure generation capacity". Under a 2010 agreement, Portland General Electric plans to shut Oregon's only coal-fired power plant in Boardman in 2020.

"Orderly power plant retirements do not constitute an emergency for our electric grid", said Amy Farrell, vice-president of the American Wind Energy Association.

Maria Korsnick, president and CEO of the Nuclear Energy Institute, applauded Friday the administration's effort to retain nuclear facilities as national security assets though she admitted to not having seen the details of the reported proposal. This time, Perry is planning to resort to federal emergency measures typically employed during wartime or natural disasters, according to Bloomberg.

The placation of private thermal power companies from the Ministry comes in the wake of government's decision to make "out of turn coal allocation to government thermal power plant", which private power companies have labelled as "discriminatory and a distortion of a level playing ground based on ownership of the power generation plants".

The Energy Department action, if ordered, would represent an unprecedented intervention into US energy markets.

As recent extreme weather events show, the ongoing loss of additional coal-fired and nuclear power will pose a significant risk to the electric grid because these units provide resilience and essential reliability services to our nation's electric grid - indispensable attributes to the delivery of electricity in our country. Nationwide, BNEF said, two dozen nuclear plants - representing almost 33 gigawatts - are either scheduled to close or probably won't make money through 2021. The two-year time-frame would also allow time for this ridiculous action to be fully implemented while Trump is still in office, making good on his campaign promise to revive the ailing and half-dead coal industry in this country.

"This action is essential in order to protect the resiliency and reliability of our nation's electric power grids", Murray said Friday in an email. Ohio-based FirstEnergy is the largest customer for Murray's Ohio-based coal company and has joined with Murray to seek federal help. It relies on authorities given to the executive branch in the Defense Production Act of 1950 and the Federal Power Act.

As Trump's fossil-fuel energy mouthpiece, Perry earlier commissioned a study to identify regulatory causes for coal-plant closures, but no regulations were found; instead, cheap natural gas was observed to be responsible for widespread industry decline.



Related Posts

First lady to hang back on president's Camp David weekend
Grisham says that the First Lady would like to be out in public promoting her initiatives, but her health does come first. The procedure was said to be "successful" and she stayed in hospital for five days before returning home.

Guatemala Fuego Volcano Eruption: Deaths Reported, People Missing Amid Lava Flows
National Disaster Coordinator Sergio Cabanas said seven people were confirmed dead and an unknown number were unaccounted for. Video images published by Sacatepezuez television showed a charred landscape where a lava flow came into contact with homes.

Giuseppe Conte has agreed to head the government of Italy
Following the searing-in ceremony, the new government headed to the prime minister's office for the hand-over ceremony. Supporters of the Five Star Movement celebrate the new Italian government on June 2, 2018 in Rome .

England level home series with Pakistan after Lords blunder
He went to fifty in style with two boundaries in successive Abbas balls - an extra-cover driven four and a hooked six. But frustrated Pakistan coach Mickey Arthur said: "It was a poor display from us, after the display at Lord's".

Apple mulls refunds for iPhone users hit by battery slowdowns
So, it sounds like Apple will be offering $50 rebates, but is debating how far back in needs to go in order to satisfy consumers. In November, there was also the case of the annoying iOS 11 .1 autocorrect bug, in which the letter "i" auto-corrected to "A".

Lunch with Warren Buffett sells for $3.3 million at auction
The winning donor wants to remain anonymous, at least initially, said Denise Lamott, a spokeswoman for Glide. Glide provides meals, health care, job training, rehabilitation and housing support to the poor and homeless.

Pushing The Envelope? Kim Jong Un’s Massive Letter To Trump
If the state-run KCNA news agency reports are true, Assad will be the first head of state to meet Kim inside the isolated country. However, Hagin is aware that the gesture to cover the cost could be perceived by North Korea as an insult.

Guatemala Volcano Erupts, Killing at Least 6
Those who were not expected to have to evacuate were urged to wear masks to protect themselves from ash in the air. The runway was closed due to the presence of volcanic ash, Guatemala's civil aviation authority said in a tweet.

Petrobras CFO Ivan Monteiro Replaces Parente as CEO
The fuel policy, which consisted of matching local prices to global rates, led to trucker strikes that disrupted Brazil's economy. Petrobras shares were down 13 percent in early afternoon trading, pulling Brazil's wider Bovespa index into negative territory.

Barcelona defender Samuel Umtiti signs new five-year deal
Umtiti joined Barcelona from Lyon in 2016 and has quickly established himself as a cornerstone of the Catalans' backline. But Umtiti has officially ended speculation over his future by committing to Barcelona for the foreseeable future.

© 2015 ExpressNewsline. All Rights reserved.