WASHINGTON, D.C. – October 8, 2015 – (RealEstateRama) — The Energy and Power Subcommittee, chaired by Rep. Ed Whitfield (R-KY), today held a hearing examining the administration’s cap and trade rules. On August 3, 2015, the Environmental Protection Agency (EPA) issued two final rules and a third proposed rule to regulate carbon dioxide (CO2) emissions from new and existing fossil fuel-fired power plants. These regulations are expected to change the way we generate, distribute, and consume electricity here in the United States and are a threat to ratepayers across the country and to grid reliability.
Chairman Whitfield stated, “This EPA has become the political arm of the White House issuing regulations by fiat. I believe that this regulatory version of cap and trade is every bit as inflexible and unworkable as the legislative version that I voted against. And I might add that there are many reasons to question the legality of this unprecedented set of regulations. Few if any of the concerns about the proposed existing source rule were addressed in the final version and the reasons for the Ratepayer Protection Act are still applicable.”