Bloomberg BNA – Requiring the use of carbon capture and sequestration technologies at coal-fired power plants could increase the wholesale price of electricity between 70 percent and 80 percent, an Energy Department official said.
Capturing carbon from coal-burning power plants would increase the cost of electricity at those facilities by as much as 80 percent, more than utilities would get by selling the carbon, an Energy Department official said.
Southern Co., which is building the nation’s only commercial power plant that will capture its own carbon emissions, criticized a proposal from the federal government to require all new coal plants to use the technology.
As President Barack Obama is set to highlight measures he can take without Congress, Republican lawmakers are already trying to unravel rules aimed at combating climate change before they are finalized.
The cost of holding rising temperatures to safe levels may reach 4 percent of economic output by 2030, according to a draft United Nations report designed to influence efforts to draft a global-warming treaty.
A long-stalled project to capture carbon-dioxide emissions from a coal plant in Illinois will get a $1 billion grant from the U.S. Department of Energy, which the operator said will allow construction to begin this year.