PITTSBURGH, Nov. 23, 2015 /PRNewswire/ -- An analysis released recently from the National Economic Research Associates (NERA) reveals that compliance with the U.S. Environmental Protection Agency's (EPA) Clean Power Plan will cause Pennsylvania's electric rates to increase 17 to 19 percent annually.
The study analyzed two alternative mass-based compliance scenarios to generate plans with the least impact to consumers. The analysis found that 48 states, including Pennsylvania, would see an increase in the price of electricity, with 40 seeing double-digit increases and 28 facing electricity price spikes greater than 20 percent. The analysis also revealed that U.S. consumers would lose between $64 billion to $79 billion.
"Given NERA's findings, we have great concern about the implementation of EPA's Clean Power Plan and the potential for double-digit electricity increases for Pennsylvania's consumers," says Mike Butler, Mid-Atlantic Director for the Consumer Energy Alliance (CEA). "In Pennsylvania, we've already seen massive amounts of power taken offline from previous regulations. I'm concerned with PA DEP's feasibility to comply by 2016, cutting short the time for a full analysis on impact."
Butler added: "Pennsylvania's cost of electricity is one of the state's greatest selling points in attracting businesses and manufacturers to the Commonwealth, and therefore, should be protected. CEA remains committed to fighting for affordable, reliable electricity supplies that benefit the Keystone State's businesses and the millions of consumers they employ."
Consumer Energy Alliance (CEA) brings together consumers, producers and manufacturers to engage in a meaningful dialogue about America's energy future. Our mission is to help ensure stable prices for consumers and energy security. We believe energy development is something that touches everyone in our nation, and thus it is necessary for all consumers to actively engage in the conversation about how we develop and diversify our energy resources and about energy's importance to the economy. CEA promotes a thoughtful dialogue to help produce our abundant energy supply and to balance our energy needs with our nation's environmental and conservation goals.
SOURCE Consumer Energy Alliance