President Donald Trump will unveil plans to use government funding and Pentagon contracts to sustain US coal-fired power plants as he seeks to drive domestic reliance on the fossil fuel, Bloomberg News reported on Tuesday, citing a White House official.
The marquee initiative, set to be announced Wednesday, will come through an executive order, as Trump directs Defense Secretary Pete Hegseth to enter into agreements to purchase electricity from coal plants to power military operations, the report said.
Trump is also set to unveil a plan by the Department of Energy to provide $175 million for upgrades at six coal-fired plants in Kentucky, North Carolina, Ohio, Virginia, and West Virginia, the report added.
The White House also said it would hold an event on Wednesday promoting coal-powered energy sources. Coal executives, miners, and energy industry leaders will visit the White House as Trump makes the announcements, the report added.
U.S.-listed coal companies include Alpha Metallurgical Resources (AMR), Peabody Energy (BTU), Core Natural Resources (CNR), Warrior Met Coal (HCC), Alliance Resource Partners (ARLP), and Ramaco Resources (METC).
