In response to the new findings, Amy Farrell, AWEA’s senior vice president for government and public affairs, says, “This report sheds light on how costly the administration’s coal and nuclear bailout could be. The $10 billion to $35 billion this policy would take from American taxpayers to keep failing businesses open each year for the next two years is just the down payment – this misguided bailout would also completely upend the competitive electricity markets that are delivering billions in consumer savings. That’s a steep price to pay in an era of U.S. energy abundance, when independent regulators and grid operators agree that orderly power plant retirements do not constitute an emergency.”
“Giving aging power plants that are not needed to keep the lights on $34 billion just to exist – that’s money for nothing,” notes Malcolm Woolf, AEE’s senior vice president of policy. “It’s too high a price to pay when advanced energy resources and competitive markets can provide the necessary services to keep our grid affordable, reliable and secure. Independent assessments confirm that these power plants – most of which are decades old – are not needed to ensure reliability or security. We urge the Trump administration to abandon, and Congress to resist, this exercise in crony capitalism, which comes at the expense of American businesses, families and economy.”
The full report can be found here.