Electric power

Trump loses coal fight to Tennessee Valley Authority

Trump holding a coal sign
Trump holds up a 'Trump Digs Coal' sign at a rally. Photo: Dominick Reuter/AFP via Getty Images

The Tennessee Valley Authority's board voted Thursday to close 2 coal plants in a lopsided decision that thwarted President Trump's pressure to support coal.

Why it matters: The TVA votes underscore the tough economics facing coal-fired power, which is steadily losing market share to gas and renewables despite White House efforts to revive the sector.

BP moves into China's electric vehicle charging market

BP logo
BP is investing in PowerShare. Photo: Joe Amon/The Denver Post via Getty Images

BP is investing in PowerShare, a 4-year-old Chinese startup providing a digital platform that "connects [electric vehicle] drivers, charge point operators and power suppliers," BP said today.

Why it matters: The funding amount in the Series A round was not disclosed, but it signals the interest in getting a stake in the world's largest market for EVs and its infrastructure.

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