financetom
Economy
financetom
/
Economy
/
Trump appoints Neil Chatterjee to head energy regulation panel
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump appoints Neil Chatterjee to head energy regulation panel
Oct 24, 2018 10:55 PM

The White House said on Wednesday President Donald Trump has appointed Neil Chatterjee, an avid supporter of subsidising ageing coal and nuclear power plants, as chairman of the Federal Energy Regulatory Commission.

Chatterjee, a Republican from coal-producing Kentucky, who was a FERC commissioner, had been a backer last year of a directive by Energy Secretary Rick Perry, that the commission ultimately rejected, to bail out coal and nuclear plants.

FERC, an independent office of the Department of Energy, makes decisions on electricity transmission and interstate natural gas pipelines and facilities.

Chatterjee served as FERC's acting head for several months last year before Kevin McIntyre was sworn in as the chairman of the agency in December.

McIntyre, who underwent surgery last year for brain cancer, will step down to become a commissioner on the five-member panel, he said in a letter posted on FERC's website on Wednesday.

McIntyre, also a Republican, sat out FERC's monthly open meeting last week and the previous one in September. "I very recently experienced a more serious health setback, leaving me currently unable to perform the duties of Chairman with the level of focus that the position demands," McIntyre said in the letter.

Perry had issued FERC a directive in 2017 to bail out ageing nuclear and coal plants that are suffering competition from plants that burn abundant and cheap natural gas. FERC rejected the plan in January. But in coming months it could consider similar plans by the administration to support the plants for national security reasons.

Earlier this month, President Donald Trump nominated the Republican Bernard McNamee, another prominent supporter of subsidising ageing coal and nuclear plants, to a vacant seat on the panel.

Critics said if the Senate approves McNamee it could make FERC more politicized because he helped roll out Perry's bailout plan while head of the Energy Department's policy office.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Fed's Powell: Latest inflation readings in 'a pretty good place'
Fed's Powell: Latest inflation readings in 'a pretty good place'
Jul 15, 2024
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell said on Monday the three inflation readings over the second quarter of this year showed more progress was being made on bringing the pace of price increases back to the Fed's target. In the second quarter, actually, we did make some more progress, Powell said at an event at the Economic Club...
Fed's Powell: Latest data 'add somewhat to confidence' inflation is returning to 2%
Fed's Powell: Latest data 'add somewhat to confidence' inflation is returning to 2%
Jul 15, 2024
WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Monday the three U.S. inflation readings over the second quarter of this year do add somewhat to confidence that the pace of price increases is returning to the Fed's target in a sustainable fashion, remarks that suggest a turn to interest rate cuts may not be far off. In the second...
Powell Praises Latest Inflation Progress, Hints At Imminent Rate Cuts, Warns He's 'Very Worried' About Unsustainable National Debt
Powell Praises Latest Inflation Progress, Hints At Imminent Rate Cuts, Warns He's 'Very Worried' About Unsustainable National Debt
Jul 15, 2024
Federal Reserve Chairman Jerome Powell said Monday the last three inflation reports have bolstered the Fed’s confidence that inflation is moving toward the 2% target, which is the key condition for policymakers to initiate interest rate cuts. “We’re back to a place where inflation is no longer overheated,” Powell said during an interview with David Rubenstein at the Economic Club...
Fed Chair Powell Says Latest Data 'Add Somewhat to Confidence' Inflation Heading Down to 2% Target
Fed Chair Powell Says Latest Data 'Add Somewhat to Confidence' Inflation Heading Down to 2% Target
Jul 15, 2024
02:13 PM EDT, 07/15/2024 (MT Newswires) -- Federal Reserve Chair Jerome Powell said Monday that the three inflation readings in Q2 did add somewhat to confidence that inflation is heading down to the 2% target. I would say we didn't gain any additional confidence in the first quarter, but the three readings in the second quarter, including the one from...
Copyright 2023-2026 - www.financetom.com All Rights Reserved