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Commission rejects Perry's push to guarantee coal and nuclear revenues

Rick Perry
Photo: Drew Angerer/Getty Images

The Federal Energy Regulatory Commission has rejected Energy Secretary Rick Perry's controversial proposal to guarantee financial returns for coal-fired and nuclear power plants in some markets.

Instead, in a notice Monday, the commission, which includes four of five regulators appointed by President Trump, said it's launching a new process to review power system resilience, and asking regional electricity market operators to submit information within 60 days that helps FERC "holistically" explore the topic.

Why it matters: Perry's proposal last fall was among the administration's most aggressive steps to prevent coal and nuclear plants from shutting down amid intense competition from natural gas, flat power demand and the growth of renewables.