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[Piecake]

Energy Secretary Rick Perry took sweeping steps on Friday to buttress a pair of financially-strapped nuclear plants under construction and redefine how coal and nuclear plants are compensated for the electricity they provide — a move that, if agreed to by independent federal energy regulators, could tilt some of the nation’s complex power markets away from renewables and natural gas.

Perry announced the Energy Department would provide $3.7 billion in loan guarantees to three Georgia utilities struggling to complete a pair of nuclear reactors at the Alvin W. Vogtle generating plant. These loan guarantees come on top of $8.3 billion in loans the department has already given to the project, but they still might fall short of what will be required to complete the costly reactors.

The aid for Vogtle partners would be issued by the Energy Department’s loan guarantee program, which President Trump’s 2018 budget proposal would abolish.

Perry also moved Friday to help nuclear and coal plants competing in regional electricity markets. Citing his department’s recent, contested study about the workings of the electric grid, Perry asked the independent Federal Energy Regulatory Commission, or FERC, to adopt new regulations that would ensure coal and nuclear plants that add to the grid’s reliability can “[recover] fully allocated costs and thereby continue to provide the energy security on which our nation relies.”

Perry’s letter to FERC, and the proposed regulation, argue these so-called “baseload” plants provide critical stability and reliability to the electric grid and should be compensated accordingly. They cite not only the department’s recent grid study, but also the recent hurricane disasters afflicting the United States and power outages during the 2014 Polar Vortex event.

FERC has 60 days to decide what action to take, and there is no guarantee the independent agency will go along with Perry’s request. Trump has recently appointed people to key posts at the agency — and the commission’s new chairman, Neil Chatterjee, has already signaled he could be receptive to the move.

If FERC agrees with Perry, and if it decides coal and nuclear are more reliable, the result could potentially mean reducing the use of solar, wind and natural gas by key grid operators in favor of coal and nuclear — which would be compensated in a way that would help prevent more plant closures. Half a dozen reactors have shut down since 2007 and half a dozen more are scheduled to close in the next nine years, according to the Energy Information Administration. The number of operating reactors has dropped from 104 to 99.

“Instead of coal and nuclear plants having to compete against cheaper, cleaner sources, customers would be forced to pay for unnecessary plants,” Kresowik said. “Frankly, I think that states that currently compete and use the markets would leave. I certainly would expect states to walk away from organized markets. It would be the end of competitive markets in the United States of America. That’s not even an exaggeration.”

https://www.washingtonpost.com/news...al-and-nuclear-plants/?utm_term=.d0f52e2d923d

 

[Orbis Tabula]

I mean, if the steps are that dirty...

 

[Captain Tuttle]

Coal is dead, Natural Gas is king

The market has spoken

 

[sans_pants]

Government shouldnt pick winners and losers or something

 

[Beartruck]

Nuclear plants, yes. Coal, fuck off.

I love that their plan is to turn back the clock by any means necessary just to make coal not worthless again. China's researching the next generation of energy and we're trying to go back to burning dirty rocks. Siiiiiiiigh.

 

[GrizzNKev]

I'm so fucking pissed that you reminded me RICK FUCKING PERRY is our energy secretary.


ughhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

 

[sant]

Republicans only bring up the free market when its to their advantage, shameful.

Also, we are at a key point in the renewable energy industry. Shitty moves like this will just hand trillions of dollars right to China.

 

[PKrockin]

I'm so fucking pissed that you reminded me RICK FUCKING PERRY is our energy secretary.


ughhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

That has something to do with oil, right? Put my pal Rick on it. He's an oil guy. Can't imagine what could go wrong.

 

[Piecake]

I'm so fucking pissed that you reminded me RICK FUCKING PERRY is our energy secretary.


ughhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

I was debating whether to put Rick Perry in the title or just Energy Secretary.

I went with ES because the article reminded me that Rick Perry is the ES

 

[TheCochese]

Fuck the Vogtle plant. Been paying for it for a decade and that shit still isn't done.

 

[Autumn Wind]

I'm so fucking pissed that you reminded me RICK FUCKING PERRY is our energy secretary.


ughhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Indeed. I am just reminded of his terrible performance on dancing with the stars.

 

[SRG01]

Nuclear plants, yes. Coal, fuck off.

I love that their plan is to turn back the clock by any means necessary just to make coal not worthless again. China's researching the next generation of energy and we're trying to go back to burning dirty rocks. Siiiiiiiigh.

No, nuclear has proven itself to be financially untenable for years. It's time to stop chasing that pipe dream.

 

[tbm24]

Wasn’t aware it was the EPA’s job to bail out energy companies.

 

[Electric Eye]

The money will be squandered and hoarded by the owners it's pretty much a parachute for the owners and ceos to bail out after the sham is over and without much accountability (see billions unaccounted for just by the W administration during the Iraq war) no one will ever be held responsible. The energy market shift isn't just in the US the entire world is moving on that they think they can revive a dead industry show just how stupid/caniving these idiots are.

 

[Slayven]

Fuck the Vogtle plant. Been paying for it for a decade and that shit still isn't done.

I went there on a field trip as a kid, had a frig magnet for the longest time

 

[zer0das]

Nuclear plants, yes. Coal, fuck off.

In principle, I might agree with this- except the cost over runs are practically guaranteed to be enormous, so even with the guaranteed loans, they will probably be well short of what they need for completion. They'll likely never finish them, and jack up utility prices ala Duke Energy to pay off their loans.

 

[Electric Eye]

In principle, I might agree with this- except the cost over runs are practically guaranteed to be enormous, so even with the guaranteed loans, they will probably be well short of what they need for completion. They'll likely never finish them, and jack up utility prices ala Duke Energy to pay off their loans.

Pretty much, they're gonna pay themselves handsomely and file for bankruptcy leaving the assets to the gov to deal with. It's government buyout scam that is so transparent. Perry ain't very smart.

 

[Piecake]

In principle, I might agree with this- except the cost over runs are practically guaranteed to be enormous, so even with the guaranteed loans, they will probably be well short of what they need for completion. They'll likely never finish them, and jack up utility prices ala Duke Energy to pay off their loans.

I'm more concerned about the proposed rule changes. It looks like a massive handout to coal and nuclear and the expense of consumers and the environment.

It is a massive continuous handout too. It just doesn't end with some billion dollar bailout.

The worst thing is the reasons for this are absolutely terrible. Why do we want to save the coal industry? It looks political and cultural. It certainly isn't going to save a whole lot of jobs because that industry is becoming increasingly automated. Hell, I've read (don't know if its true), that coal doesn't work well with natural gas and renewables in our energy grid.

 

[Chumly]

This sounds like something a socialist would propose (except the fossil fuel part). I thought republicans were free market????

I mean not only is perry going to try and prevent more renewables to be built but he is actually going to force people to pay more just to have coal energy. I mean what the fuck

 

[Frankfurter]

More money for those "cheap" nuclear and coal Power plants. Sounds like an amazing idea.

 

[TarNaru33]

Government shouldnt pick winners and losers or something

This is a wrong statement in so many ways where government do need to intervene.

I agree with helping the nuclear industry, I would love for coal to completely die off. Natural gas should also be reduced.

U.S should be relying on Nuclear, solar, wind, geothermal, and hydro power.

EDIT: U.S Should not be giving up on nuclear power at all and should just eat the costs, if it was used more than it is now today, it would not be as expensive. It is this way because U.S slowed down dramatically in making them along with some poor choices on nuclear reactor design.

 

[Frankfurter]

That's some backwards logic. It's Not used more often, because it's so expensive!