The U.S. Environmental Protection Agency’s plans to regulate carbon dioxide emissions from power plants will cost America’s economy over $50 billion a year between now and 2030, according to a new report issued by the U.S. Chamber of Commerce’s Institute for 21st Century Energy. The unprecedented avalanche of new and anticipated regulations coming from the EPA is creating significant uncertainty for the U.S. power sector. The analysis shows that Americans will pay significantly more for electricity, see slower economic growth and fewer jobs, and have less disposable income. Additionally, potential EPA regulations would result in a very slight reduction in carbon emissions, which would be overwhelmed by global increases.

Even more alarming, the South power region will see the biggest increases in electricity costs by far. From 2014-2030, consumers in the South would be hit with an annual average increase of $6.6 billion and in total a $111 billion increase in energy costs. Read the Executive Summary here.

The North Carolina Chamber is part of a national coalition, the Partnership for a Better Energy Future, that is made up of stakeholders representing nearly every segment of the U.S. economy, unifying in our support for responsible, smart energy regulations. The Partnership aims to educate and mobilize the broader business community and elected and public officials to address widespread concerns with forthcoming greenhouse gas rules. This collection of diverse perspectives is united under a common interest in ensuring the Administration’s greenhouse gas (GHG) regulatory actions do not harm American jobs and the economy. The North Carolina Chamber will continue to inform you about this and other environmental issues important to jobs and the economy.

Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber