Coal plants are easily the best option in 90% of games where you have coal. The health hit doesn't hurt nearly as much as waiting for the hammers. Later on one can consider building another plant, but it's usually easier just to find another way to get health, like more resources, medicine for hospitals, genetics, etc.
If nuke plants were balanced they'd be an alternative. If you can't trade for coal, then you have no choice but to go w/o power (generally not a good idea) or to build them in your hammer cities...or make a play at three gorges dam if tech can support it.