Photo: Duke Energy (Flickr)
President Obama unveiled a climate action plan this week to cut carbon emissions. The President did not outline exactly how much carbon emissions from power plants would be restricted, but any cap would be the first time those emissions have been regulated.
This could have a significant impact on Indiana where Hoosiers get nearly95 percent of their electricity from coal. New regulations could mean some of the state’s plants will close and others will have to retrofit their facilities. Interim President of the Indiana Energy Association, Ed Simcox says those costs will be passed on to the consumers.
“They will not be inconsequential, the cost will be felt in the pocket book of a consumer in a monthly bill,” says Simcox.
Indiana’s electricity costs are currently among the cheapest in the country. Kerwin Olson is the President of the Citizens Action Coalition—a group that lobbies for renewable energy in the state. He argues that moving away from coal could actually save people money in the long term.
“If you look at long term operations costs and zero fuel cost, zero emissions and zero water cost with renewable resources – we believe that evidence displays that investments in efficiency and renewable’s drives costs down for consumer.”
Simox says ultimately everyone needs more details in order to determine how much the regulations would impact consumers and companies. He says much of that is dependent on when the new regulations would take effect.