Coal Mogul Murray Heaps Praise on Perry’s Plan to Help Plants
- Outspoken CEO calls it ‘single greatest action’ in decades
- Controversial plan would pay plants with big fuel stockpiles
A scrubber stack releases water vapor at the American Electric Power (AEP) Mountaineer coal plant in Letart, West Virginia, U.S., on March 9, 2016. U.S. industrial production surged well beyond consensus expectations in January, as the late arrival of winter weather for much of the country caused utility output finally to rebound after several months of soft results.
Photographer: Ty Wright/Bloomberg via Getty ImagesCoal mogul Robert E. Murray is calling Energy Secretary Rick Perry’s proposal to shore up coal-fired power plants the “single greatest action” taken in decades to support cheap, reliable electricity.
Murray, the outspoken chief executive officer of Murray Energy Corp., called on the Federal Energy Regulatory Commission in a statement to “swiftly enact” Perry’s proposal, which would create new payments for power generators -- mostly coal and nuclear facilities -- that have at least 90 days’ worth of fuel stockpiled on-site.