Secretary Perry's coal bailout is a raw deal for the taxpayers

An independent government agency saved Americans from a massive de facto tax hike.

Energy Secretary Rick Perry had proposed a multibillion-dollar bailout of failing coal and nuclear power plants. He wanted to give these plants taxpayer-funded subsidies to keep them afloat. Luckily, the Federal Energy Regulatory Commission (FERC) made the right call and quashed the plan.

Perry’s proposal — commonly called the notice of proposed rulemaking, or NOPR — would have granted government subsidies to any power plants capable of storing 90 days’ worth of fuel supply on-site. The only electricity generato...