Energy Reliability Act of 2018

This bill amends the Internal Revenue Code to allow a tax credit through 2022 for a portion of the expenses for the operation or maintenance of a coal-powered electric generation unit, excluding expenses for coal.

The credit applies to taxpayers who own or lease an electric generation unit that: (1) uses coal to produce at least 75% of the electricity produced by the unit, and (2) has constructed and installed emissions controls pursuant to specified Environmental Protection Agency (EPA) regulations or any other applicable federal emissions control requirements that are equal to or more stringent than the EPA regulations.

Taxpayers may transfer the credit to an eligible project partner. An "eligible project partner" is a person who:

• is responsible for operating, maintaining, or repairing the unit;
• participates in the provision, including transportation, of coal or other materials and supplies to the unit;
• provides financing for the construction, expansion, repair, or operation of the unit; or
• leases the unit.

If a unit claims a credit under this bill, the Federal Energy Regulatory Commission (FERC) must require the applicable reliability coordinator to conduct an assessment analyzing the reliability and resilience attributes offered by the unit to the regional grid in which it is located. FERC must submit to Congress: (1) the results of the assessments, and (2) a recommendation as to whether the credit should be extended after 2022.