Perry's bailout plan for coal, nuclear could cost more than $34 billion, study says
WASHINGTON - A Department of Energy proposal to bail out struggling coal and nuclear power plants would cost $34 billion, according to a new study commissioned by a coalition of energy and technology companies opposing the plan.
The analysis, by Massachussetts-based research firm The Brattle Group, looked at the costs associated with keeping the U.S. coal and nuclear fleets operating as is for the next two years.
"Arresting the retirement of uneconomic generating assets in the current market environment will likely prove quite costly," the report reads.
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The study was commissioned by groups including American Petroleum Institute, Advanced Energy Economy and American Wind Energy Association, after the leak of a memorandum from the Department of Energy calling for the White House to use national security powers to save coal and nuclear plants.
More: https://www.chron.com/business/energy/article/Perry-s-bailout-plan-for-coal-nuclear-could-cost-13086420.php
President Trump has ordered Energy Secretary Rick Perry to prepare steps that would keep coal and nuclear plants from shutting down. CPS Energy's coal plants Spruce 2, left, Spruce 1, center, and Deely are seen on Calaveras Lake near San Antonio. Photo: LISA KRANTZ, STAFF / SAN ANTONIO EXPRESS-NEWS