The Clean Power Plan could cause electricity prices to increase around 15 percent a year on average, and as much as 22 percent on peak years.
According to the plan, Louisiana will have to lower its carbon dioxide emissions by nearly 30 percent of 2012 levels by 2030. Since renewable sources are much more expensive than coal, energy costs will increase drastically, and families and businesses will be burdened with tough financial decisions.
Today the Pelican Institute for Public Policy is releasing a new study by economists at the Beacon Hill Institute at Suffolk University which finds that the three recent Environmental Protection Agency regulations on mercury and carbon dioxide emissions will increase Louisiana electricity prices by 22 percent by 2030.
This week the Pelican Institute for Public Policy submitted public comments to the Environmental Protection Agency opposing EPA’s Clean Power Plan, which would increase electricity prices and raise reliability concerns in Louisiana.