first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg Businessweek:As President Donald Trump prepares to pay failing coal plants to stay open, several states are hatching plans to gently put them to sleep. One solution gaining steam among lawmakers, environmentalists, and policy experts can be found in an unlikely place: the bond market.For utilities, getting out of the coal business can be costly. They have to pay to dismantle generators, and they don’t want to miss out on future revenue by scrapping still-productive assets early. Plus, coal-plant workers will need to be retrained for other jobs. To pay for all that, states could allow utilities to issue special bonds at low rates. While the plan has yet to be implemented, Colorado, New Mexico, and Missouri are among the states where legislation has been debated.“If there’s a no-cost option available to the state, I think it would be absurd to not do it,” says Jacob Candelaria, a Democratic state senator in New Mexico. Candelaria sponsored a bill that failed to pass and plans to reintroduce it next year. No tax dollars would be spent for such bonds, he says, but the debt would be backed by ratepayers. That means the utility can add a special charge to customers’ bills to cover the payments. The predictable cash flow means the bonds can carry lower rates. For years, coal’s been losing out to cheaper natural gas and cleaner renewables such as wind and solar. Coal-fired facilities accounted for more than half of U.S. electricity from 1949 through 2005, according to the Energy Information Administration. Since then, its share has declined to less than one-third of the U.S. total.Strategies for managing the transition vary. The operators of New England’s power grid have instituted a plan, sometimes called “cash for clunkers,” that includes—as a side effect to making room for new clean energy sources—paying old plants to retire. Trump, who has struggled to fulfill a campaign promise to help the coal industry, announced on June 1 that he was ordering Energy Secretary Rick Perry to stem the tide of closures. The government would establish a “strategic electric generation reserve” and compel grid operators to buy electricity from coal and nuclear plants. The administration says this is to protect national security. Still, many state and local authorities—and even a lot of utilities—see coal-plant shuttering as inevitable. Almost two dozen coal plants, with a combined capacity of more than 16 gigawatts, are scheduled to close in 2018, according to data compiled by Bloomberg New Energy Finance from the EIA and the Sierra Club. Another 30 gigawatts’ worth of plants are slated to follow suit by the end of 2025.It’s just a question of how the process unwinds. Candelaria estimates his legislation would have allowed utility PNM Resources Inc. to issue bonds that would pay 1 percent to 3 percent, as long as the proceeds were spent on shutting a coal plant. If PNM had to issue bonds on its own to do the same thing, it might have to pay interest of 6 percent to 8 percent, the lawmaker says. The exact rates would depend on a variety of factors, but “we’re talking about real money,” Candelaria says. Ron Darnell, senior vice president of public policy for PNM, calls the strategy “an equitable way to facilitate the transition to newer, cleaner energy resources.”More: Buy Bonds, Kill Coal States turn to bond market to fund decommissioning of coal plantslast_img read more


first_imgSpain prevailed 2-1 over Senegal in their Round of 16 ties at the FIFA U-17 World Cup Brazil 2019™ on Wednesday, leaning on an imposing start to see out the victory.The Spaniards dominated the pace of the game during the opening period in Goiania and were rewarded with a goal, coming via brilliant combination play between Pablo Moreno and Roberto Navarro in the 27th minute. German Valera’s solo effort doubled La Rojita‘s advantage in the 59th minute.Senegal made a match of it late, but the India 2017 runners-up will move onto the quarter-finals in Brazil 2019, where they’ll face the winner between France and Australia.SpainSpain’s goals showcased the different ways they can beat opponents: through crisp passing and incisive team moves or from shining individual performances.For their second goal, Valera made a determined run from midfield. The captain had his initial shot attempt blocked but was quick to latch onto the deflection and slot the ball low past Pape Dione.Goalkeeper Ivan Martinez saw most of his action in the final ten minutes and stood tall against the onslaught of crosses sprayed into the box.SenegalSenegal’s attackers applied significantly more pressure in the second half, but their breakthrough no doubt came later than they hoped.Substitute Aliou Balde served up a cross to the near post and Souleymane Faye got a piece of the ball with his foot, redirecting it past Ivan Martinez in the 85th minute.The Young Lions of Teranga kept the pressure high through the end of the match but were unable to equalize.The U-17 World Cup debutants exit Brazil 2019 having advanced beyond the group stage.last_img read more


first_imgFianna Fáil Spokesperson on Education and Skills Charlie McConalogue TD has called on the government to protect education services in Budget 2014. Charlie McConalogue TDThe party launched its budget proposals this week, which protects funding for education services, mental health services and supports for people with disabilities.Fianna Fáil’s plan prioritises special needs education, provides additional resource hours for children with Down Syndrome and reverses the cuts to small rural schools, said the Inishowen Deputy. “We have put education at the heart of our Budget 2014 proposals. We are sending the message to government loud and clear that it is possible meet budgetary targets next year without cutting supports for children with special needs, without attacking small schools and without introducing yet another hike in the student registration fee,” said Deputy McConalogue.“The Education Minister Ruairí Quinn needs to learn from the mistakes he has made in the past. The last two budgets were highly regressive in the area of education. The most vulnerable children in the school system were hit with cuts to support – children with special needs, children in disadvantaged areas and teenagers in need of one-to-one attention at second level.“Students were hit with two further increases in the college registration fee by a Minister who promised to reverse fee hikes. Post-graduate grants were abolished and the SUSI fiasco caused severe hardship to tens of thousands of students nationwide.”He claims that Minister Quinn has been forced into a series of u-turns on some of these regressive cuts. “However, there are still DEIS schools that suffered cuts to resources; children with special needs have seen a further reduction in SNA supports again this year; the abolition of the career guidance allocation at second level remains in place and has resulted in a dramatic reduction to one-to-one supports for vulnerable teenagers in the school system; small schools in rural communities across the country are now under threat; and students will be hit by another €250 increase in the third level registration fee next year.“These highly damaging cuts are not necessary and they must stop. There is no reason why education services cannot be protected in Budget 2014. The government can choose to put a high value on education, and place it at the heart of their budget plan for next year,” said Deputy McConalogue. EDUCATION MUST BE PROTECTED IN BUDGET – McCONALOGUE was last modified: October 13th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:budgetCharlie McConaloguelast_img read more