President Donald Trump announced a plan to direct roughly $685 million in federal support toward the U.S. coal industry, including funding for existing coal-fired power plants, new generation projects, and a proposed export terminal in California. The initiative uses Defense Production Act authorities and Energy Department grants as the administration seeks to expand domestic energy production and electricity generation.
- The plan includes $425 million in Defense Production Act funding for 13 existing coal plants across multiple states.
- Beneficiaries include Duke Energy ($DUK), Hallador Energy ($HNRG), OGE Energy ($OGE), and a subsidiary of American Electric Power ($AEP).
- An additional $185 million in Energy Department grants will support projects in Alaska, West Virginia, and the restart of the AES Warrior Run facility in Maryland.
- The administration is allocating $75 million for the proposed West Gateway coal export terminal in Oakland, California.
- The export terminal could handle up to 12 million tons of U.S. coal annually.
- Coal supplied about 17% of U.S. electricity generation last year, down from more than 50% historically.
Relevant Companies
- Duke Energy ($DUK) – Identified as a recipient of Defense Production Act funding for coal-fired generation assets.
- American Electric Power ($AEP) – A subsidiary is expected to receive support under the coal funding initiative.
- OGE Energy ($OGE) – Listed among utilities slated to benefit from federal coal plant funding.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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