U.S. subsidies may not save some coal, nuclear plants slated for…

Date:

Several major U.S. operators of nuclear reactors and coal plants said they had not changed plans to close plants in coming years, even after the White House said it would take emergency steps to subsidize struggling operators.

U.S. President Donald Trump last week directed Energy Secretary Rick Perry to take steps to keep coal and nuclear power plants running, citing a decades-old national security law as justification.

That announcement triggered backlash from drillers, renewable energy producers and environmentalists, who call it an unfair attempt to prop up non-competitive industries and burden ratepayers with billions of dollars of additional power costs annually.

NRG Energy Inc, which owns nuclear, coal and natural gas power plants, agreed.

“We’re very concerned to have consumer money subsidize plants. It’s never good when government starts picking and choosing winners and losers,” said Mauricio Gutierrez, NRG chief executive.

Read full article here.

Reuters – June 6, 2018.

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