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April 26, 2018

U.S. Coal Bailout Review Slows After Trump Faces Pushback

  • Government
  • Executive
  • Energy

Bloomberg – A bankrupt power generator’s plea for President Donald Trump to help saving money-losing power plants has drawn opposition from key administration officials, slowing action on the proposal, according to two people familiar with the deliberations.

FirstEnergy Solutions Corp. asked the Trump administration last month to immediately declare a grid emergency and guarantee profits for money-losing coal and nuclear power plants -- a move the government has generally reserved for times of war and potentially widespread blackouts. The Energy Department has yet to decide on the request, and instead opened a public comment period on the underlying authority.

Some members of Trump’s administration see the FirstEnergy Corp. subsidiary’s plea as premature, lacking evidence that the situation is dire and requires urgency, said the officials, who asked not to be identified because the deliberations aren’t public. The company has said some of the plants in question won’t shut until 2020 at the earliest.

Read more at Bloomberg

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