Environment & Energy Report

New York’s Plan to Kill Coal Is Already Boosting Power Prices

Jan. 18, 2019, 12:25 PM

New York’s plan to put the state’s last coal-fired power plants out of business hasn’t even been approved yet and electricity is already trading like they are shut.

The price of power in 2021 in New York City and other regions surged more than 30 percent beginning in May. The only major difference between then and now: a pending state rule to limit power plant emissions that was designed to eliminate coal-burning power plants by the end of 2020.

States that are taking more aggressive steps to curb climate change should pay attention to this early reaction. Gov. Andrew Cuomo...

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