Trump coal backer wins big under Perry's power plan
Source: Politico
The secretary's proposal for reshaping the electricity markets would throw a lifeline to a coal-mining company owned by Trump supporter Bob Murray.
By DARIUS DIXON and ERIC WOLFF 11/06/2017 05:03 AM EST Updated 11/03/2017 05:55 PM EDT
A proposal by Energy Secretary Rick Perry to alter the nation's electricity markets would provide a windfall for a small group of companies — most strikingly one owned by coal magnate Bob Murray, a prominent backer of President Donald Trump.
Perry's plan would force consumers to subsidize ailing coal-fired and nuclear power plants with billions of dollars, in what he calls an effort to ensure that the nation’s power network can withstand threats like terrorist attacks or severe weather. But his narrowly written proposal would mostly affect plants in a stretch of the Midwest and Northeast where Murray's mining company, Murray Energy, is the predominant supplier, according to a POLITICO analysis of Energy Department data.
The company and its PAC together sent $200,000 to pro-Trump election efforts last year, while Bob Murray threw an invitation-only West Virginia fundraiser for Trump in 2016.
Perry’s proposal, which needs approval from the Federal Energy Regulatory Commission, is the Energy secretary's most aggressive step yet toward helping Trump reverse what he has denounced as former President Barack Obama's "war on coal." But while it would stimulate demand for coal, it would also increase power prices for millions of customers.
Read more: https://www.politico.com/story/2017/11/06/trumps-coal-backers-energy-power-rick-perry-244535
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