Letter to FERC says value of baseload plants that produce power all the time is not accurate reflection of their role
Tom Johnson reports for NJ Spotlight:
U.S. Energy Secretary Rick Perry asked a federal agency Friday to draw up new regulations to compensate so-called baseload generating facilities that are critical to the reliability of the electric grid.The Trump administration is proposing to bolster the fortunes of coal and nuclear power plants, a step aimed at averting early shutdown of units across the nation, including some in New Jersey
The request is significant for New Jersey, because Public Service Enterprise Group has been lobbying policymakers here, the operator of the regional power grid, and Washington officials for lucrative financial incentives for its three nuclear units in South Jersey, which are facing economic challenges due to cheap natural gas.
So far, the Newark company has yet to make much headway, but Perry’s letter to the Federal Energy Regulatory Commission could provide the help it has been seeking to prevent it from prematurely shutting its units down. Perry argued in his letter the current energy markets are not accurately pricing the value of baseload plants that produce power all the time and reliably.
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