Wednesday, November 4, 2009
News Report: Southern Co. to 'suffer most' under climate bill
Posted by Thomas Wheatley @thomaswheatley on Wed, Nov 4, 2009 at 5:50 PM
Our federal overlords are currently mulling climate change legislation that aims to reduce greenhouse gas emissions, thus reducing the impact of global warming. (They're doing it for the children, ya skeptics.) Some carbon belchers — as well as some Republicans — aren't thrilled about the bill.
According to a study reported by E&E, a subscription-based energy industry and policy publication, Atlanta-based Southern Co. would be hardest hit if the legislation passes. The article's only available to subscribers, but here's a snippet:
Atlanta-based Southern Co. will suffer most from a federal carbon cap-and-trade system, facing $393 million in costs to comply with legislation to curb emissions of greenhouse gases, according to a new study by Point Carbon, a carbon market information firm. Two other energy producers, American Electric Power and Duke Energy, round out the top three firms in the nation facing the most risk, with those two companies expecting to incur costs of $252 million and $125 million, respectively, Point Carbon analysts said.
In an attempt to flesh out the "winners and losers" of federal cap and trade, analysts zeroed in on 18 companies that are expected to represent 40 percent of any future U.S. market in emissions allowances. Southern Co. is characterized as the worst off, while Chicago-based Exelon Corp. is seen as the best off. Point Carbon believes Exelon, the nation's biggest nuclear power producer, could actually see net revenues of $1.7 billion from the sale of its surplus allowances.
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