Regulators: Coal bailout isn’t justified

administration’s claim that struggles facing the coal and nuclear industries threaten the reliability of the nation’s power grid.

“There is no immediate calamity or threat,” the Republican chairman of the Federal Energy Regulatory Commission told Congress. Existing power sources are sufficient to satisfy the nation’s energy needs, FERC Chairman Kevin McIntyre added.

Four other commissioners from both parties agreed there is no immediate threat to the grid. The comments before the Senate Energy and Natural Resources Committee contradict a recent White House directive ordering action to keep coal-fired and nuclear power plants open as a matter of national and economic security.