Coal / Energy / Renewable Energy

Coal’s best bet for a bailout may now come from Rust Belt

WASHINGTON, DC — “The U.S. coal industry’s best hope for a bailout may lie in the Rust Belt now that Washington’s plan has fizzled.

The largest U.S. power grid — covering Pennsylvania, Ohio and other states — has been considering an initiative that may keep struggling coal plants afloat.

The idea, which would boost revenue for generators including coal and nuclear plants, has drawn skepticism from analysts and isn’t nearly as sweeping as the White House plan rejected Monday by regulators. But at least one coal miner says it could aid his industry.

‘It certainly sounds like it’s in the same direction,’ Murray Energy Corp. Chief Executive Officer Robert E. Murray said in an interview. ‘We have to see what they’re proposing.'”

— Tim Loh and Catherine Traywick, Bloomberg News

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