Washington, D.C.— Today, U.S. Senator Shelley Moore Capito (R-WV) introduced the “Electricity Reliability and Fuel Security Act,” which would provide a five-year tax credit to cover a small portion of operations and maintenance expenses for existing coal-fueled power plants. The bill is the Senate companion to H.R. 5270, introduced by Representative Larry Bucshon (R-IN). ACCCE issued the following statement by Paul Bailey, President and CEO.
“We support the Senate version of the Electricity Reliability and Fuel Security Act introduced by Senator Capito. The introduction of this bill is another important step towards the passage of legislation to help sustain the nation’s fleet of coal-fueled power plants,” Bailey said. “This is only a temporary tax credit to help maintain the reliability and resilience of the nation’s electricity grid until policymakers agree on a longer-term plan for the grid. The coal fleet demonstrated its importance by being the most resilient source of electricity during the recent Bomb Cyclone. However, premature coal retirements will continue unless steps are taken, such as the enactment of this legislation. We are grateful that Senator Capito has introduced the Electricity Reliability and Fuel Security Act and look forward to working with Congress to enact it.”
The American Coalition for Clean Coal Electricity is a partnership of industries involved in the production of electricity from coal. Coal is an affordable, reliable, and fuel secure energy resource that provides almost one-third of our nation’s electricity.