OBAMA WAS RIGHT

EPA CLOSES POWER PLANTS AND YOUR ELECTRICITY RATES WILL SKYROCKET

Power Plants to be closed by EPA Regulation

http://www.instituteforenergyresearch.org/epa-powerplant-closures
Institute for Energy Research

Impact of EPA Regulatory assault on power plants: New regulations to take more than 34 GW of electricity generation offline and the plant closing announcements keep coming

http://www.instituteforenergyresearch.org/wp-content/uploads/2012/04/June-12-EPA-powerplant-shutdown-update.pdf

40-page PDF

More than 34 gigawatts (GW) of electrical generating capacity are now set to retire because of the Environmental Protection Agency’s (EPA) Mercury and Air Toxics Rule (colloquially called Utility MACT)[1] and the Cross State Air Pollution Rule (CSAPR)[2] regulations. Most of these retirements will come from coal-fired power plants, shuttering over 10 percent of the U.S.’s coal-fired generating capacity.

This report is an update of a report we issued in October 2011.[3] Last October the original report, we calculated that 28.3 GW of generating capacity would close as a result of EPA’s regulations. At the time, we warned that “this number will grow as plant operators continue to release their EPA compliance plans.” Unfortunately, this statement has proven to be true. This update, a mere eight months later, shows that 34.7 GW of electrical generating capacity will close—a 6.4 GW increase.

According to EPA, their modeling of Utility MACT and CSAPR indicates that these regulations will only shutter 9.5 GW of electricity generation capacity. But events in the real world already show that EPA’s modeling is a gross underestimate.

Michigan and Ohio Hit Worst By Recent Announcements

In our recent analysis, the vast majority of new announced retirements will occur in Michigan and Ohio. Operators in Michigan have announced more than 1 GW of closures due to EPA regulations.[6] Michigan, already reeling from record high unemployment, has warned that further closures due to the regulations could threaten reliability in both the Upper and Lower Peninsulas. The situation is even worse in Ohio, which is now facing 6 GW of closures, the most in the entire country.[7]

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