Shares of power-plant operators ticked up as traders reversed bets on rising interest rates. The Trump administration Tuesday will formally withdraw federal limits on carbon emissions at power plants, Environmental Protection Agency Administrator Scott Pruitt said. The move likely set up a yearslong fight between the EPA and states like New York, whose attorney general responded with a vow to sue, over the Obama administration's centerpiece regulation for slowing climate change. AES shares were under pressure after the power producer cut its earnings projection, citing damage inflicted by recent hurricanes. AES said only one of its two power generating units in Puerto Rico that sustained damage is now available to generate electricity and that a solar-power facility on the U.S. Virgin Islands was "materially damaged.
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(END) Dow Jones Newswires
October 09, 2017 16:48 ET (20:48 GMT)