December 1, 2014

Just A Few Hours Left To Comment On EPA Power Plant Rule – Sign The U.S. Chamber’s Letter Now!

You now only have a few hours left to comment on the U.S. Environmental Protection Agency’s (EPA) costly new emissions rule for existing power plants. 

MSCI encourages its members to sign the U.S. Chamber of Commerce Institute for 21st Century Energy’s letter opposing this regulation. Our members can simply sign and submit the form letter as it is or personalize the letter by telling the EPA what your company would have to cut in order to pay for the increased energy prices. Would you have to cut employment? Benefits? Investment? 

As a reminder, as part of the Partnership for a Better Energy Future (PBEF) coalition, MSCI sent comments to the U.S. Environmental Protection Agency (EPA) opposing this proposal. The letter argued the draft regulation “is incompatible with numerous practical and technical aspects of America’s electricity system and would represent a vast expansion of the agency’s regulatory reach into the authority held by states and other federal regulatory agencies.” 

The comments also pointed out the rule would:    

  • Raise energy prices and costing jobs. The EPA estimates the rule will cause nationwide electricity price increases averaging between six and seven percent in 2020 and estimates that annual compliance costs will fall somewhere between $5.4 and $7.4 billion by 2020, and up to $8.8 billion in 2030. These estimates reflect power sector compliance costs only; they do not represent the rule’s broader effect on U.S. economic activity.
  • Dramatically increase electrical grid stress and reliability challenges.
  • Not reduce global emissions. Indeed, if the Obama administration adopts policies that substantially increase the cost of energy, thereby decreasing the competitiveness of U.S. industries, investments and emissions will be sent to other, less efficient countries. As a result, overly restrictive and costly U.S. policies to reduce emissions will not only be offset by the rapidly increasing emissions from other countries, but could actually result in a net increase in global emissions.

The attorneys general from 17 states also submitted comments last week opposing this rule. Read more about their opposition to this regulation here.