Clean Energy Now–a coalition of groups opposing the construction of new coal power plans in Michigan–is warning that rising coal costs could impact Michigan. With eight coal-fired power plants proposed for Michigan, the Clean Energy Now coalition is pointing to recent studies by the American Electric Power in Ohio and Duke Energy in South Carolina as further evidence that coal makes no sense for Michigan. According to the coalition, the two energy companies are raising rates to pay for the increasing costs associated with purchasing coal. American Electric Power has said that it may raise its rates by 45% to offset those costs, while Duke Energy recently raised prices by 9%.
Recent studies have also found that increases in South Carolina and Ohio are not isolated. A study by Doyle Trading Consultants and Evolution Markets published in March found that the price of coal has jumped by 64%-93% between 2007 and 2008. Furthermore, construction costs for coal-fired power plant facilities have risen 40% since 2000, according to the Edison Electric Institute and Energy Information Administration.
Related posts:
- CMS Energy CEO Says Michigan Can’t Abandon Coal
- Michigan Coal Waste a Problem; Will be Exacerbated by New Coal Plants
- Michigan, Coal, and the Renewable Portfolio Standard (RPS)
- Group Calls for Limits on Michigan Coal Plants in Wake of EPA Decision
- Michigan Clean Energy Now Praises EPA Ruling on South Dakota Coal Plant
