Washington, D.C. – Today, Ranking Member of the Senate Energy and Natural Resources Committee Maria Cantwell (D-Wash.) led Senate colleagues in opposing Secretary Perry’s plan to subsidize coal and nuclear plants.
Three weeks ago, Secretary Perry proposed a new FERC rule that would require electric consumers to pay coal and nuclear plant owners more money on the premise that they are more "fuel secure" than other types of generation, and thus “resilient” to disruptions to the grid like hurricanes. Under the proposal, FERC has 60 days to finalize, modify, or reject the rule.
In the letter the Senators wrote, “We respectfully suggest that improving market competition is not the objective of the Secretary’s proposal. It is likely to lead to higher prices for tens of millions of consumers, producing the opposite result of what consumers expect in competitive markets.”
“We urge the Commission to reject this ill-conceived proposed rule and return, in a deliberative manner and with the benefit of a full Commission, to reviewing and building upon the record developed in existing proceedings related to the organized markets in a way that truly benefits consumers,” said the Senators.
Along with Senator Cantwell the letter was signed by Senators Duckworth (D-IL), Franken (D-MN), Heinrich (D-NM), Hirono (D-HI), King (I-ME), Stabenow (D-MI), Markey (D-MA), Merkley (D-OR), Whitehouse (D-RI), and Wyden (D-OR).
The full letter can be found here.