Trump readies new plan to aid coal and nuclear power

Share
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.

Share

Advertisement

Related Posts

Microsoft Is Said to Have Agreed to Acquire Coding Site GitHub
Many corporations, including Microsoft and Alphabet Inc.'s Google, use GitHub to store their corporate code and to collaborate. According to the Bloomberg report , GitHub lost $66 million over three quarters in 2016 and remains in the red.

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.

Northern Ireland's DUP dismisses idea of joint UK, EU status
John McGrane, the Director-General of the British Irish Chamber of Commerce, dismissed the proposal and said it was too late to be floating "vague, unworkable" ideas.

Merkel comments on euro zone reform show move towards French position
He also called for a shared European military intervention force and defense budget. This story has not been edited by Firstpost staff and is generated by auto-feed.

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.

North Korea fires top three military generals
USA officials believe there was some dissension in the military about Kim's approaches to South Korea and the United States. Syria and North Korea have maintained close relations for decades.

US Women's Open: Ariya Jutanugarn beats Hyo-Joo Kim in play-off
But Kim made bogey - her first of the day - on 18 while Jutanugarn made par again to send the format to sudden death. Women's Open?" While the Aussie settled for a final round 78, her T5 finish is her best in a major championship.

Nadal, Halep cruise into third round of French Open
Fabio Fognini beat Kyle Edmund 6-3, 4-6, 3-6, 6-4, 6-4, while Maximilian Marterer won 6-2, 6-1, 6-4 against Jurgen Zopp . The top-seeded Romanian has never lost to Petkovic, and four of her seven wins have been on clay.

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.

How to watch Cavs vs Warriors online or on TV
Houston's third quarter performance undid all of its hard work , but it proved that breaking down the Warriors isn't impossible. Most of the scrutiny after the game was focussed on a freaky sequence in the dying seconds of regular time when J.R.

© 2015 ExpressNewsline. All Rights reserved.