The inflation reduction act gives the EPA the authority to regulate greenhouse gas emissions.
The electric sector will have to more than double capital spending starting literally tomorrow if it intends to reach decarbonization within 20 years.When, early this year, the U.S.
We view the above as the “Manchin compromise”. Senator Manchin, an ardent coal advocate and Democrat from W. Va, ultimately supported a bill to name a problem - greenhouse gases - while providing little enforcement authority for the EPA with respect to coal-fired power plants, ensuring the status quo for a bit longer. No conventional big coal-fired plant in West Virginia has gone into service since 1980, and there is no rush to build more.
The industry was counting on a slow slide into decarbonization, set for a date beyond the retirement of its current top executives and it might still get its wish, but we don’t think that schedule will hold, because servicing the demands caused by the implementation of IRA will look too much like the next big thing to ignore.
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