STUDY: EPA Regs to Increase WI Electricity Prices 19%, Eliminate 20,995 Jobs by 2030

[Madison, Wisc…] The John K. MacIver Institute for Public Policy released a policy brief in conjunction with the Beacon Hill Institute at Suffolk University on Tuesday that shows newly proposed EPA regulations will increase electricity prices by 19 percent and eliminate nearly 21,000 jobs by 2030.

Three recently proposed Environmental Protection Agency regulations on mercury and carbon dioxide emissions will significantly reduce the generation capacity of coal-fired power plants in Wisconsin. Currently, 62 percent of electricity in the state is generated by coal-fired power plants.

According to the economists that authored the report, a reduction in the supply of coal-generated power would increase average annual residential electricity costs by $225, commercial electricity costs by $1,530 and industrial electricity costs by $105,094.

“The EPA’s proposed rules will be absolutely detrimental to Wisconsin’s families and businesses,” said Brett Healy, President of the MacIver Institute. “These regulations will cost thousands of hard-working Wisconsinites their jobs and electricity prices will soar.”

If the rules go into effect as proposed this summer, Wisconsin’s real disposable income would drop by $1.82 billion by 2030 and the state’s cost of compliance in 2030 would be $920 million, according to the study.

“Wisconsinites simply cannot afford any more burdensome regulations that will only serve to hinder an already struggling economy,” Healy added. “The EPA and policymakers need to be very aware of the harmful effects of these proposed rules.”

View the full policy brief by clicking this link.

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