The decision by the Republican-controlled Federal Energy Regulatory Commission (FERC) was unexpected and comes amid repeated promises by Trump to rejuvenate coal as the nation’s top power source. The industry has been besieged by multiple bankruptcies and a steady loss of market share as natural gas and renewable energy have flourished. And the money would be used to prop up some of the oldest and dirtiest power plants in the country, according to the joint report by research groups Climate Policy Initiative and Energy Innovation. Critics said the plan would distort energy markets and raise prices for customers, especially in the north-eastern and midwestern US. Energy providers outside of coal and nuclear have warned about interference in the free market and manufacturers with high energy needs said higher prices could be passed on to consumers.

Source: The Guardian January 09, 2018 01:18 UTC