"New York Is Killing Off Its Last Coal-Fired Power Plants"

"New York has adopted a rule to eventually kill off its last two coal-fired power plants.

The state’s environmental regulator said Thursday that it had finalized regulations requiring all power generators to meet new carbon-dioxide emissions limits that are nearly impossible for coal plants to hit. In doing so, the agency said, Governor Andrew Cuomo will fulfill his goal of banning New York power plants from burning coal by the end of 2020.

While the state has hailed the new emissions standards as key to combating climate change, others have warned New York may face higher electricity prices as a result. The price of wholesale power for delivery to New York City in 2021 has climbed more than 25% since the state proposed the rules, underscoring the trade offs for states trying to fight global warming."

Lynn Doan and Jim Efstathiou Jr report for Bloomberg May 9, 2019.

Source: Bloomberg, 05/13/2019