Capito Introduces Legislation to Strengthen Energy Security, Resilience

U.S. Senator Shelley Moore Capito (R-W.Va.) today introduced the Electricity Reliability and Fuel Security Act, legislation that would provide a temporary tax credit for existing coal-fired power plants to help cover a portion of operation and maintenance costs.

"Recent winter storms have highlighted just how important it is that we have access to affordable and reliable energy sources, and as it has done time and time again over the years, coal proved to be exactly what we needed to power the country," Senator Capito said. "As we work to identify and fix vulnerabilities in our electrical grid, we need to make sure that coal-fired power plants are able to continue producing the energy Americans rely on. This legislation will help ease some of the financial burdens placed on these plants, and as a result, it will help preserve our energy security."

The recent series of winter storms caused hundreds of thousands of power outages--demonstrating the inconvenience, economic loss, and threats posed to American's health and well-being by an absence of access to reliable energy. Because many variable energy generation units were unable to run during those storms, coal-fired power plants were used to help fill the gaps in energy generation. However, due to misguided and burdensome regulations and certain subsidies and mandates, many coal-fired plants have been prematurely slated for retirement and may not be around the next time there is a similar weather event.

The Electricity Reliability and Fuel Security Act would provide a temporary, five-year tax credit to help coal-fired power plants continue operations. The credit would help offset a portion of operation and maintenance expenses at qualifying plants.

The bill is supported by the West Virginia Coal Association and the American Coalition for Clean Coal Electricity (ACCCE).

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