Illinois Coal Plant Expected to Raise Electricity Rates, Fuel Global Warming
Tuesday, July 13, 2010
The Chicago Tribune reports that the cost of a new coal plant under construction in southern Illinois has more than doubled to $4.4 billion, an increase which will affect residents in the Illinois towns that signed long-term contracts to purchase power from the plant. The Prairie State coal plant, built by Peabody Energy, the world’s largest private coal company, will burn coal from Peabody’s nearby mine, generating 1600 megawatts of electricity and generating 13 million tons of global warming pollution each year, the equivalent of putting 2 million more cars on the road.
Some argue that coal is the cheapest source of electricity available, but proposed federal regulations on carbon dioxide and other greenhouse gases could add additional costs to the power from this plant.
ELPC opposed the construction of the plant. As Executive Director Howard Learner told the Tribune, “These cities and towns are captive buyers at the mercy of Peabody and its ever-increasing costs. People are going to pay higher rates for more pollution. That isn’t a winning formula.”
Read the full story in the Chicago Tribune.
