Biden mulls quicker close to coal-fired power plants, Bloomberg says

U.S. coal-fired power plants may be forced to shut down two years sooner than envisioned under a Biden administration plan, Jennifer Dlouhy of Bloomberg reports. The change being seriously considered now by administration officials would accelerate the required retirement date for coal plants that opt against installing carbon-removal technology at the sites, people familiar with the matter told Bloomberg. The journalist says this would be a tougher approach than what the Environmental Protection Agency outlined in ab initial proposal last year that would give companies until 2040 to shutter the sites. The matter is not settled and is still being debated internally, Dlouhy adds. Shares of Peabody Energy (BTU), Arch Resources (ARCH) and Alpha Metallurgical (AMR) moved lower following the report.