Thursday, October 27, 2016

Carlyle Energy Pushes Government Subsidies

Utility Dive reported (original source Bloomberg):

Absent financial subsidies and policy support, the nuclear industry will cease to exist within the next decades, Bob Mancini, one of the leaders of the Carlyle Group’s power unit, said at a conference, Bloomberg reports.
Business Insider reported that Carlyle sought natural gas subsidies in California

To offset losses, Rockland Capital, Calpine and other plant owners, including General Electric and the Carlyle Group's Cogentrix, are asking the state for help. They argue that it is in the state's interest to support the natural gas plants because they provide stability and reliability -- attributes that are important to the state's power grid and something weather-dependent wind and solar can't offer. If the plants don't get needed support, their owners have warned, a critical safety net for the grid could disappear. 
To sum up:  Nuclear needs subsidies relative to cheaper fuels, like natural gas.  Natural gas needs subsidies relative to solar and other renewable energy sources.  One could deduce that no matter what, Carlyle needs subsidies.