Press Release: The CEPP Would Cost WV Billions!
FOR IMMEDIATE RELEASE
DATE: November 2nd, 2021
FOR MORE INFORMATION CONTACT
Amanda Kieffer, Communications Director at Cardinal Institute for WV Policy
PHONE: (304)-541-9551 EMAIL: [email protected]
New Study Shows CEPP Would Cost West Virginia an Additional $34.9 Billion
Charleston, W. Va.—A new study released by the Cardinal Institute for West Virginia Policy and the Center of the American Experiment explores the costs that the Clean Electricity Performance Program (CEPP) would have in West Virginia.
The CEPP has been a highly contested portion of the proposed $3.5 trillion reconciliation package in Congress. It would have required electricity providers to increase the amount of carbon-dioxide-free electricity sold on their systems by 4 percent every year or pay penalties. Media reports indicate that the CEPP may no longer be part of the reconciliation package due to the objections of West Virginia Senator Joe Manchin.
The cost of implementing the program in West Virginia would be $34.9 Billion. This translates to $1,100 per electricity customer per year.
Isaac Orr, co-author and policy fellow at the Center of the American Experiment stated, “The Clean Electricity Performance Program pushed by radical progressives in Congress would have been one of the most devastating policies enacted in West Virginia’s history, by causing the premature closure of coal plants and a forced transition to wind and solar.”
“The CEPP’s threat to affordable living and the job market in West Virginia is shown to be more harmful to our families and economy than the carbon-dioxide emissions it aims to reduce,” added co-author and policy development associate at the Cardinal Institute, Jessica Dobrinsky.
About the Cardinal Institute
The Cardinal Institute for West Virginia Policy, Inc. is a 501(c)(3) non-profit founded in September 2014 dedicated to research, develop and communicate effective free market economic public policies for West Virginia.