NERA study describes heavy impacts of EPA Clean Power Plan
A new study, published by NERA and available on the AmericasPower.org website is detailing the heavy economic impacts of the EPA’s Clean Power Plan.
New analysis from NERA Economic Consulting shows the Environmental Protection Agency’s power plan comes with a hefty price tag that could approach $300 billion and raise electricity prices in each of the 47 states subject to the new regulation. …
Despite the fact that the president’s plan will have virtually no effect on climate change, NERA’s analysis shows that all of the Lower 48 states will see electricity price increases because of the rule. Consumers in 40 states could see double-digit electricity price increases, and 28 states could face electricity price spikes greater than 20 percent. The annual cost of at least $30 billion per year for the plan is three times greater than the cost of EPA’s Mercury and Air Toxics rule, which the U.S. Supreme Court criticized by saying, “It is not rational … to impose billions of dollars in economic costs in return for a few dollars in … benefits.”
Annual additional costs of at least $30 billion, double digit electricity price increases in 40 states, little to no real environmental impact, and 27 states taking the EPA to court to stop the implementation of the Clean Power Plan all indicate it is well past time for the rule to be suspended and reconsidered.