New head of U.S. energy agency seeks delay of coal, nuclear rule

Image
Reuters WASHINGTON
Last Updated : Dec 08 2017 | 9:25 PM IST

WASHINGTON (Reuters) - The new chairman of the Federal Energy Regulatory Commission late on Thursday requested a 30-day delay on a decision on a plan promoted by Energy Secretary Rick Perry to subsidize aging nuclear and coal-fired power plants.

Kevin McIntyre, a Republican, wrote a letter to Perry proposing to extend the deadline for a decision on the so-called Grid Resiliency Pricing Rule. Perry in September had issued FERC a directive to consider the rule and decide on it by Dec. 11. The plan would allow plants that maintain at least 90 days of fuel supply on site to recover their full costs through regulated power pricing.

FERC received more than 1,500 comments on the plan, many of them from groups representing natural gas drilling, wind and solar power, and consumers that slammed the plan. Grid operators also criticized the plan.

Murray Energy, a private coal company, has said that it and other coal producers and related industries are "threatened with bankruptcy and significant economic harm" if coal-fired power plants shut.

McIntyre said in the letter that an extension would "afford adequate time for the new commissioners to consider the voluminous record and engage fully in deliberations." FERC only reached its full complement of five commissioners on Thursday with McIntyre's swearing in. Another commissioner, Richard Glick, a Democrat, was sworn in on Nov. 29.

The Energy Department did not immediately respond to a request for comment.

(Reporting by Timothy Gardner; Editing by Steve Orlofsky)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 08 2017 | 9:16 PM IST

Next Story