Coal Plants Face Higher Insurance Fees

Amid the country's bold shift toward clean energy, insurance companies have sharply raised premium rates for coal-fired power plants, according to the Department of Energy (DOE).

- By Brix Lelis

In a press briefing, Energy Secretary Raphael Lotilla said insurance firms "have shown reluctance" in offering reasonable rates for coal plants, even for those not covered by the existing moratorium.

"The premiums for insurance have increased, especially for the coal-fired power plants since (they) are part of the transition story," Lotilla said, although he did not provide the current rates.