NERA Economic Consulting Releases Study on Combined Impacts of EPA Utility MACT Rule and Clean Air Transport Rule
by MARLO LEWIS on JUNE 9, 2011
File this one under regulatory trainwreck. NERA Economic Consulting has just published a study on the combined economic impacts of EPA’s Clean Air Transport (CATR) Rule and Utility Maximum Available Control Technology (MACT) Rule.
NERA estimates the rules will impose $184 billion in cumulative costs on the electricity sector, increase average U.S. electricity prices in 2016 by 12%, and reduce net U.S. employment by 1.4 million jobs during 2013-2020. (Cooler Heads)
Overregulation: The Environmental Protection Agency has two new rules it wants to impose on utilities that use coal. But the rules make sense only if you want less energy, higher prices and fewer jobs.
Remember then-candidate Barack Obama’s comment in January 2008 that the price of electricity would “necessarily skyrocket” once his policies went into effect?
It’s now coming to pass — just as OPEC has decided it doesn’t want to pump more oil. Get the picture? We’re being systematically starved of energy, and our economy is suffering. Just don’t ask the White House to help. (Investors.com)
President Obama’s infamous words—saying electricity rates will “necessarily skyrocket” under his cap-and-trade program that would impose a costly energy tax on American consumers—are set to come true. Just ask the market.
Although cap and trade is not law, the Environmental Protection Agency’s (EPA) backdoor train wreck of energy regulations is forcing utilities to file for significant rate hikes in years to come because of the upgrades they will have to make or the complete shutdown of older plants. (The Foundry)
American Electric Power, one of the country’s largest coal-burning utilities, said on Thursday it plans to retire nearly one-quarter of its coal fleet and retrofit other units at a cost of as much as $8 billion to comply with proposed environmental regulations. (Reuters)