The effect of the rule will be a sharp increase in cost to consumers and a severe reduction in reliability, all when the electrification of our economy is accelerating.
The United States Environmental Protection Agency’s new rule on greenhouse gas emissions from power plants will, if implemented, have severe negative consequences not only for Ohio but for our entire nation.
The rule requires existing coal-fired power plants to nearly eliminate the carbon dioxide they emit by first capturing the carbon that’s produced when coal burns and then pumping it deep underground. The rule requires compliance by Jan. 1, 2032.
What the rule requires, however, has never been done; it relies on technology that does not exist and is unlikely to exist, at least anytime soon. No process has come close to capturing carbon at the level the rule requires, nor is there any available method to geologically store the volume of carbon in question.
Industry leaders (including myself) testified before Congress, and we told the EPA directly, in no uncertain terms, that the proposed rule would force the closure of nearly all coal-fired power plants operating in the United States, which currently supply approximately 20% of U.S. electricity. What’s worse, it allows no good option to replace that always-available power.
The effect of the rule will be a sharp increase in cost to consumers and a severe reduction in reliability, all at a time when electrification of our economy is accelerating, industrial production is on the rise, and AI is gobbling up more and more electricity with every passing day.
Nearly every knowledgeable industry participant with an interest in maintaining a reliable electric system, along with members of Congress from both political parties, raised concerns with the EPA, pointing out the obvious problems with this rule. The EPA chose to ignore those concerns.
The last ill-conceived, unrealistic, and unachievable attempt the EPA made at regulating carbon dioxide emissions from power plants, the so-called Clean Power Plan, took nearly eight years before it was struck down by the U.S. Supreme Court. Now Buckeye Power, along with many other electric suppliers and utilities, will once again be forced to spend precious time and resources in court to stop the EPA from overstepping its authority and causing those severe negative consequences for what would be a relatively negligible reduction in overall global CO2 emissions.
In the meantime, we will, of course, continue to do everything in our power to meet your need for reliable and affordable electricity.
