West Virgina will be hard hit by costs of rushed EPA regulations
One more article on the widespread (and growing) news of oncoming economic hardship resulting from the hurried imposition of the most expensive EPA regulations ever imposed on the utility industry. In this article, we learn how new EPA regulations are forcing the early closure of three of American Electric Power coal-fueled generation stations. Unfortunately for residents of West Virginia, these closures will result in over 240 lost jobs and “$17 million in lost wages,” as well as “$13 million in lost payroll and property taxes.” The closures are also expected to spike electricity rates by 10 to 15 percent at the same time as the region suffers even further economic downturn.
American Electric Power has targeted three older coal-fired power plants in West Virginia for closure if proposed Environmental Protection Agency regulations take effect.
The Philip Sporn plant near New Haven has 120 employees. The Kanawha River plant near Glasgow has 62 employees. The Kammer plant at Moundsville has 60 employees.
All would shut down by Dec. 31, 2014.
Jeri Matheney, a spokeswoman for Appalachian Power, said the closings would result in $17 million in lost wages and $13 million in lost payroll and property taxes. The closings could result in rate increases of 10 to 15 percent, Matheney said.