Trump Scores a Win for Coal in Blow to Renewable Energy (1)
By Stephen Cunningham and Christopher Martin
Dec. 19, 2019, 9:57 PM
President Donald Trump can claim a victory for his friends in the coal industry after his hand-picked energy regulators changed the rules in the biggest U.S. power market.
The Federal Energy Regulatory Commission ordered an overhaul of a massive electricity auction that power generators count on for more than $9 billion a year in payments. Under the new rules, coal plants that have struggled to compete with low-cost gas and renewable energy may now claim more of that money. That’s a boon for fossil-fuel plant owners Calpine Corp., Vistra Energy Corp. and NRG Energy Inc.