Today, the Senate will vote on the fate of one of the most expensive regulations of all time–a regulation that threatens to create an America with no new coal-fired power plants, where existing energy producers might have to close their doors, snuffing out jobs and making electricity dramatically more expensive.
Citing mercury pollution and air pollution, the Environmental Protection Agency (EPA) ordered businesses to install the “Maximum Achievable Control Technology” (MACT) to control emissions from their plants. Known as Utility MACT, this is no ordinary regulation. So stringent are the standards that potentially dozens of coal-fired power plants will close rather than incur the unsustainable costs of compliance.
The EPA estimates the rule will cost $9.6 billion annually, to be paid by utilities and customers alike for new equipment, monitoring and reporting, loss of generating capacity, and higher electricity rates. Industry insiders consider the agency figures to be a lowball estimate.