Bloomberg reported that under the Environmental Protection Agency’s (EPA) new rules, existing coal-fired power plants won’t have to install equipment to capture and store the carbon dioxide they release.
As quoted in the market news:
Gina McCarthy, the agency’s administrator, told a Christian Science Monitor breakfast in Washington today that EPA will issue guidelines for states that allow the use of energy efficiency, clean-energy installations or demand cuts to reduce their greenhouse-gas emissions. The EPA issued a proposal for new coal-burning power plants on Sept. 20 that would require the expensive capture technology, called CCS.
‘CCS is really effective as a tool to reduce emissions when it’s designed with the facility itself,’ McCarthy said today. Instead of rules limiting emissions at particular plants, the EPA must use ‘an extremely different process, and one that requires that EPA has a broader discussion about how states can reduce carbon.’