New EPA regulations could drive electricity costs sky high

The Environmental Protection Agency is expected to release new regulations on the building of new coal-fired power plants.

The CEO of South Mississippi Electric Power Association Jim Compton says the new regulations will cause either a spike in electricity costs, or a shortage of energy for South Mississippi.

The new rule would force any coal-fired plant being built to require a form of carbon dioxide sequestration, or a way to capture CO2 emissions. The cost required to build these facilities or build alternate energy plants are incredibly expensive.

These costs would passed down to the electricity consumer.

"We're concerned for our members and we want them to understand we would like to see them politically active. We would like to see them tell their congressman and senator their views on it. We want to balance clean energy with affordable energy and hopefully work on a national energy policy that achieves that balance," Compton said.

For now, the legislation will only affect the building new power plants; however, Compton said planning for new non-coal plants should develop over the next five to ten years.

The added costs will either create an energy shortage, or sky rocket the energy costs which could affect the attraction of industry to Mississippi.