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A New Study Details Just How Much the Obama Administration's 'Clean Power Plan' May End up Costing Consumers
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(76 seconds)
-- How Will You Use This Story? --
(OPEN):
IN AUGUST, THE OBAMA-ADMINISTRATION ISSUED ITS
"CLEAN-POWER PLAN"--WHICH AIMS TO REDUCE CARBON-EMISSIONS FROM POWER-PLANTS.
HOWEVER, A NEW STUDY DETAILS JUST HOW MUCH IT MAY END UP COSTING CONSUMERS.
TERRY JARRETT IS A FORMER COMMISSIONER WITH THE "MISSOURI PUBLIC-SERVICE
COMMISSION"...
(JARRETT):
"BY THE YEAR 20-30, THE PLAN COULD CAUSE AN INCREASE IN WHOLESALE ELECTRICITY-PRICES OF WELL OVER
200-BILLION DOLLARS--WITH 46 STATES POTENTIALLY SEEING DOUBLE-DIGIT INCREASES.
IN ATTEMPTING TO TRANSFORM THE ELECTRICITY-SYSTEM, THE E-P-A HAS SET AN EMISSIONS-TARGET THAT WILL DESTROY ENOUGH POWER-PLANTS TO SUPPLY
23-MILLION HOMES WITH ELECTRICITY. IT ALSO HAS UNDERESTIMATED THE PENALTY THAT CONSUMERS WILL PAY TO REPLACE LOWER-COST, COAL-GENERATED ELECTRICITY WITH HIGHER-COST, AND MORE-VARIABLE, POWER-SOURCES.
WHAT'S MORE, THE PLAN MANDATES--FOR EACH STATE--TARGETS FOR REDUCING EMISSIONS THAT MANY
WON'T BE ABLE TO REACH. AND, JUST TRYING TO REACH THOSE TARGETS WILL BE EXTREMELY COSTLY, FOR FAMILIES AND BUSINESSES ALIKE.
THE FINANCIAL-IMPACT FOR ALL CONSUMERS OF ELECTRICITY WILL BE
SIGNIFICANT--AND SHOULD BE CAREFULLY WEIGHED, AS STATES CONSIDER HOW TO PROCEED."
(CLOSE):
THE REPORT WAS PRODUCED BY "ENERGY-VENTURES
ANALYSIS", ON BEHALF OF THE "NATIONAL MINING
ASSOCIATION".
