Energy Secretary Rick Perry is asking the federal agency that oversees the U.S. grid to issue a new rule to restructure electricity markets to fully compensate power plants for the reliability they provide.
Perry sent his policy proposal to the Federal Energy Regulatory Commission(FERC) on Friday. The letter asks FERC to create an electricity pricing regime that allows power plants to recover the costs of providing baseload power. It will likely be seen as a lifeline to coal and nuclear power plants.
“A diverse mix of power generation resources, including those with on-site reserves, is essential to the reliable delivery of electricity—particularly in times of supply stress such as recent natural disasters,” Perry said in a statement.
“My proposal will strengthen American energy security by ensuring adequate reserve resource supply and I look forward to the Commission acting swiftly on it,” Perry said. – READ MORE
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