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$10.6 Billion Per Year: estimated cost of Rick Perry’s Coal And Nuclear Subsidy

Rick Perry’s Coal And Nuclear Subsidy Could Cost The U.S. Economy $10.6 Billion Per Year, Forbes, Silvio Marcacci, 6 Nov 17, The U.S. Department of Energy’s Notice of Proposed Rulemaking (NOPR) directing the Federal Energy Regulatory Commission (FERC) to subsidize coal and nuclear generation is opposed by nearly every side of America’s electricity industry – from market operators and conservative analysts to a bipartisan group of former FERC commissioners – except for those who would directly benefit from it.

Reasons for opposing the NOPR range from potentially destroying wholesale power markets, to free trade principles, or insufficient review time, but beyond Rick Perry suggesting the proposal’s price was equal to “the cost of freedom,” DOE hasn’t quantified the NOPR’s economic impact or which plants it would subsidize.

New research from Energy Innovation (EI) and the Climate Policy Initiative (CPI) finds DOE’s NOPR could cost up to $10.6 billion annually, and would be paid by U.S. businesses and residents . This subsidy would flow to roughly 10 companies and 90 power plants, and harm cheaper generation from natural gas and renewables.

Wrecking U.S. power markets won’t improve grid resilience

DOE’s NOPR is the latest Trump Administration attempt to prop up older, inefficient coal and nuclear generation that utilities find increasingly uneconomic to operate against cleaner, cheaper generation and efficiency resources…..

November 8, 2017 - Posted by | business and costs, politics, USA

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