Court tosses Trump order keeping CMS Energy's aging coal plant running

A federal appeals court on Friday, September 12, 2026, threw out the Trump administration's emergency order forcing CMS Energy Corporation (CMS) to keep its 64-year-old Campbell coal plant in Michigan running past its planned retirement. Judges said there was no real emergency to justify it. The order had piled roughly $164 million in operating costs onto the utility over one summer stretch. The ruling weakens the push to keep aging coal alive for AI data-center demand, a headwind for coal supplier Peabody Energy Corporation (BTU).