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Biden’s Power-Plant Plan Will Have Bigger Carbon-Cutting Reach

(Bloomberg) —

The Biden administration’s plan for throttling power-plant pollution is expected to drive far greater reductions of greenhouse gas emissions than initially expected, even as US electricity demand climbs. 

The final regulation, set to be unveiled by the Environmental Protection Agency on Thursday, is projected to reduce the power sector’s carbon dioxide emissions to more than 75% below 2005 emission levels by 2035, according to people familiar with the matter who asked not to be named because the measure isn’t yet public. 

The mandates are set to keep some 123 million metric tons of carbon dioxide out of the atmosphere in 2035 alone, according to a government analysis of the rule. 

The measure is a marquee part of President Joe Biden’s broad plan to to counter climate change by arresting planet-warming pollution from power plants, automobiles and oil fields. The coming power-plant limits also are seen as critical to helping the US meet its carbon-cutting commitments under the Paris Agreement.

Read More: Biden Races to Lock In Energy, Climate Rules Ahead of Election

The larger-than-expected impact is partly driven by changes in assumptions about natural gas prices. It also reflects the Biden administration’s moves to tighten proposed limits on existing coal plants. That includes the EPA’s final decision to move up the deadline for existing coal-fired power plants to either close down or capture almost all of their carbon dioxide releases.

Representatives of the Environmental Protection Agency didn’t immediately respond to a request for comment.

© 2024 Bloomberg L.P.


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