Rick Perry dampens prospects of power grid emergency request
Energy Secretary Rick Perry. Photo By Tom Williams / CQ Roll Call
Energy Secretary Rick Perry said Monday his agency will soon decide whether to approve a request to boost economically struggling coal and nuclear power plants.
Between the lines: His remarks dampened prospects that the Trump administration will move to keep a string of these plants open in the Northeast and Mid-Atlantic.
“[The request] may not be the way that we decide is the most appropriate, the most efficient way to address this. It’s not the only way."
— Perry at the Bloomberg New Energy Finance Future of Energy Summit in New York
Why it matters: The approval of an emergency order request by utility FirstEnergy Solutions matters for two reasons:
It’s unprecedented in the history of the arcane Energy Department provision, and most independent experts say approving it would be a huge intervention into the competitive power market.
Approving the order would be an explicit way President Trump can show he’s reviving the coal and nuclear industries, a campaign promise.
What’s next: Bob Murray, the CEO of privately-held coal producer Murray Energy, will speak at the same conference on Tuesday at noon ET. The Energy Department denied a similar request by his company last year. Expect fireworks on this topic and more, given Murray will be in a crowd of executives whose companies are largely built around the evolution away from coal.
