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Reports: Clean Power Plan Will Save MO Money

Two new reports find that shifting away from Missouri's dependence on coal will save consumers money and create jobs according to two new reports. Credit: click/morguefile
Two new reports find that shifting away from Missouri's dependence on coal will save consumers money and create jobs according to two new reports. Credit: click/morguefile
July 27, 2015

JEFFERSON CITY, Mo. - According to two new reports, Missouri can help its residents save money while cutting carbon emissions as the state implements the Environmental Protection Agency's Clean Power Plan.

Elizabeth Stanton, principal economist with Synergy Energy Economics, which put together one of the reports, says if states like Missouri invest heavily in renewables and increased efficiency to comply with the plan, the savings will follow.

"Missouri households taking advantage of energy-efficiency programs under the proposed Clean Power Plan would save $44 a month on average and their bills would be $92 a month in 2030."

The EPA's Clean Power Plan aims to reduce emissions from existing fossil-fuel power plants by 30 percent below 2005 levels by the year 2030.

While critics have claimed the plan will hurt consumers and cut jobs, the Synapse report and another analysis from Georgia Institute of Technology conclude that a clean power path would benefit the economy and job creation.

Marilyn Brown, a public policy professor, School of Public Policy at Georgia Tech, says their model looked at implementing the Clean Power Plan with a combination of renewable and energy-efficiency policies plus a modest price on carbon.

She says that would translate to lower bills not just in Missouri, but nationwide.

"We see a reduction of, depending on the state," she says. "Anywhere from 5 to 10 percent rather than an increase."

Brown adds, by not putting the Clean Power Plan into action and continuing under the current energy scenario, the average electric bill would increase about nine percent between now and 2030. The Clean Power Plan is expected to be finalized this summer.

Mona Shand, Public News Service - MO