Nuclear and Coal Bailout
The Administration is considering plans to bail out coal and nuclear plants across the country, under the auspices that the nation’s electricity grid is facing an emergency and putting America’s national security at risk.
But the federal government’s own Federal Energy Regulatory Commission (FERC) commissioners have said that there is “no immediate calamity or threat” to justify bailouts for coal and nuclear. The planned retirements of select power plants are not a threat to our national security.
Billions in Bailouts
Experts project that this bailout could run as high as $34 billion, annually. This cost, along with any future bailout costs, could be borne by industrial customers, taxpayers and residential consumers, the hardest hit of whom would be low income Americans who have the least disposable income.
Energy Markets and Responsible Policies
American energy markets deliver affordable and reliable energy that Americans need to heat and cool their homes, power their businesses, and drive the economy forward.
Our global energy leadership is proof that American innovation and free markets are providing this energy and are securing our nation by decreasing our dependence on energy from nations which do not share our interests.
The government should not intervene in energy markets by bailing out uneconomical and inefficient power plants that have long been scheduled for retirement. Instead, we should let the markets work.
Government officials should focus on truly strengthening our energy and national security: developing more domestic energy (i.e. offshore), modernizing our energy infrastructure, and preventing cyberattacks on our existing infrastructure.
Federal bailouts should not be part of our national energy strategy – especially in the name of national security.