WASHINGTON, Aug. 2, 2015 /PRNewswire-USNewswire/ -- Edison Electric Institute (EEI) President Tom Kuhn issued the following statement today in advance of the Environmental Protection Agency's (EPA's) release tomorrow of the final Clean Power Plan, which will establish guidelines for states to regulate greenhouse gas emissions from existing fossil fuel-based electric generation units under section 111(d) of the Clean Air Act.
"Without a doubt, EPA's final Clean Power Plan slated for release tomorrow will be the most comprehensive, far-reaching regulation ever promulgated by the federal government to impact the electric power sector.
"Our industry already is making significant investments to transition to a cleaner generating fleet and to enhance the electric grid. This transition is exemplified by the 73 gigawatts of publicly announced coal plant retirements or retrofits scheduled to take place by 2022—enough to power 36 million households. Overall, the industry's capital expenditures are projected to be approximately $100 billion per year through 2016, with a record-high $108.2 billion estimated for 2015.
"As we await release of the final Clean Power Plan, our primary concern remains the overall timing and stringency of the near-term reduction targets. The industry asked that EPA provide sufficient time for states to craft compliance plans and then subject those plans to critical reliability reviews, and we are hopeful the final guidelines will address this issue.
"Until we review the final guidelines in their entirety, it is difficult to assess whether they address the range of concerns we have raised over the past year. Ultimately, it is imperative that the final guidelines respect how the electric system works and provide enough time and flexibility to make the necessary changes to achieve carbon emission reductions.
"EEI and its member companies are committed to ensuring that electricity continues to be reliable, affordable, and increasingly clean. Throughout this rulemaking process, we have worked on a good faith basis to improve the final guidelines in order to minimize the costs to customers and to protect the reliability of the system."
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia, and directly employ more than 500,000 workers. EEI has 70 international electric companies as Affiliate Members, and 270 industry suppliers and related organizations as Associate Members.
SOURCE Edison Electric Institute