“Federal action is necessary to stop the further premature retirements of fuel-secure generation capacity,” says a 41-page draft memo obtained by Bloomberg and circulated before a National Security Council meeting on the subject Friday.
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Memo outlines plan for DOE to direct operators to purchase electricity or generation capacity from facilities at risk of retirement. Government also would establish a "Strategic Electric Generation Reserve" w/ aim of promoting nat'l defense & maximizing domestic energy supplies.
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The Energy Department would be embracing authority under 2 laws - the Federal Power Act & the Cold War-era Defense Production Act - to intervene temporarily while the gov't conducts a 2-year study of vulnerabilities. Read more from
@business: https://www.bloomberg.com/news/articles/2018-06-01/trump-said-to-grant-lifeline-to-money-losing-coal-power-plants-jhv94ghl …? @tictocShow this thread -
Administration officials are still deciding on what - if anything - to do. This memo represents the DOE's latest, most fully developed plan to intervene on behalf of coal & nuclear power plants, pitched to Trump's top national security advisers. Memo here:https://www.bloomberg.com/news/articles/2018-06-01/trump-said-to-grant-lifeline-to-money-losing-coal-power-plants-jhv94ghl …
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Trump just ordered his energy secretary to take immediate action to stem power plant closures in the name of national security, arguing that declining coal & nuclear electricity puts the nation's grid at risk.https://www.bloomberg.com/news/articles/2018-06-01/trump-orders-perry-to-stem-coal-nuclear-power-plant-closures-jhw8smiv …
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A strong case can be made for helping existing nukes, but there’s no case for helping coal, which has huge external costs that aren’t currently priced.
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You spelled "illegal" wrong..
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Is this in some way Russia related?
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Is this through Section 202 of the Federal Power Act, or some other measure?
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