Economy

Energy Department Urges Pricing Shift that Could Bolster Coal, Nuclear

Energy Department Urges Pricing Shift that Could Bolster Coal, Nuclear”

"The Federal Power Act clearly states that FERC cannot favor one energy source over others in its rulemakings, and Perry's ask - without evidence or common sense - seeks to prop up unsafe coal and nuclear plants that can no longer compete in the wholesale market". It is a clumsy attempt to drive the Trump administration's efforts to force customers to pay more to bailout America's remaining uneconomic coal and nuclear plants and help their billionaire polluter allies.

Graham Richard, CEO of Advanced Energy Economy, a national business group, said in a statement that the proposed rule ignores the primary finding from Secretary Perry's own grid study from just a month ago, which was that the grid is being managed reliably with today's diverse energy resource. Now, the agency is asking federal regulators to presume that's the case, and create a rule that could provide coal and nuclear plants with additional financial support - potentially at the expense of natural gas, solar, wind and other alternatives. "My proposal will strengthen American energy security by ensuring adequate reserve resource supply and I look forward to the commission acting swiftly on it". "In the wake of the incredible disruptions caused by extreme weather events in recent years, including multiple hurricanes and polar vortices, the urgency to act in support of the resiliency of the electric grid has never been clearer", she said. While FERC commissioners are appointed by the president, the agency is otherwise independent and not obligated to follow through on Perry's request.

Currently, grid operators in most of the country use competitive markets, in which the lowest-cost power sources usually get contracts. Incoming FERC Chairman Neil Chatterjee said in a recent interview that "baseload power should be recognized as an essential part of the fuel mix", and that "generation, including our existing coal and nuclear fleet, need to be properly compensated to recognize the value they provide to the system".

DOE filed a Notice of Proposed Rulemaking (NOPR) under the Federal Power Act to enhance grid resilience, directing FERC to "accurately price generation resources necessary to maintain reliability and resiliency".

But Chatterjee has also pledged to protect FERC's independence, and said he prefers to avoid making any major decisions until Kevin McIntyre, Trump's pick to be the commission's long-term chairman, is confirmed by the Senate and sworn in. On Twitter, energy lawyer Ari Peskoe, senior fellow in electricity law at Harvard Law School's Environmental Policy Initiative called the 60-day proposal "practically and legally impossible". During this cold snap across the Eastern U.S., spikes in heating energy demand came amidst cold-related power plant closures that could have led to blackouts, had several coal power plants now slated for future closure not been available to serve the load. That report concluded that coal and nuclear plant closures could cause resilience problems at some point in the future, but grid operators are now handling the challenges well.



Like this

Latest


29 September 2017
Versartis, Inc. (VSAR) Major Shareholder Sells $7007700.00 in Stock
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink . Secor Capital Advisors, Lp bolstered its position by buying 64,630 shares an increase of 289.3% from 03/31/2017 to 06/30/2017.

29 September 2017
US Consumer Spending Soft in August
Consumer spending accounts for almost 70% of economic activity but the August dip may not be of much concern. While still being well below the Fed´s 2% inflation target, it marks the lowest core PCE rate since 2015.

29 September 2017
Morata: Eden Hazard Is In The Top 3 Players In The…
Morata, signed from Atletico's arch-rivals Real for £65m in the summer, added: "It was a very important test for us as a team ". Atletico Madrid forward Fernando Torres describes Chelsea counterpart Alvaro Morata as "one of the best strikers in Europe".

29 September 2017
Woman arrested for fatally botching mom's butt injection
Bynum died after complaining of dizziness and chest pains to officers responding to a 911 call at a building in Gramercy Park. Bynum, of Harlem, died in July, just 12 days after she received silicone butt injections at a Manhattan apartment.

29 September 2017
More flights leaving San Juan, but thousands are still stranded
Speaking with host Alisyn Camerota, Mayor Carmen Yulin Cruz blistered the White House over what it called a "good news story". Rivera made a five-hour trek from San Juan to Ponce to visit his father, a drive that usually takes an hour, he said.

29 September 2017
White Square Capital LLP Grows Holdings in NXP Semiconductors NV (NASDAQ:NXPI)
BidaskClub upgraded NXP Semiconductors N.V. from a "hold" rating to a "buy" rating in a research note on Wednesday, August 9th. Want to see what other hedge funds are holding NXPI? Mar Vista Invest Prtn Lc holds 1.5% or 339,181 shares in its portfolio.

29 September 2017
Nude sketch of Mona Lisa may have been found in France
The portrait depicts a nude woman, known as the Monna Vanna which was previously attributed only to Leonardo da Vinci's studio. Tests at the Louvre Museum in Paris have led curators to believe the charcoal is "at least in part" by Leonardo.

29 September 2017
Helios and Matheson Analytics I (NASDAQ:HMNY) Sees Price Swing - Down $0.68
However looking at valuation ratios the stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. Volatility is simply a measure of the predictable daily price range-the range in which a day trader operates.

29 September 2017
Dextera Surgical Inc (DXTR) How Do the Technical Vary?
A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Looking at some more average volume numbers, the 20 day is 4299806, and the 50 day average volume is noted as 4104034.

29 September 2017
North Korea shot down a USA plane in 1969, killing 31 Americans
White said in a statement that the exercise sent a message to North Korea that the US has military options on the table. Chung "also said there are worries over military conflict being sparked by accidental incidents", Park added.