Recently adopted and proposed federal environmental regulations can have potentially far-reaching effects on State-level planning and policy making, particularly for states that rely heavily on fossil fuels for energy production and use. These regulations can also add significantly to the costs of doing business in that state.
The proposed rules for power plant carbon emissions will require diligence on the part of affected parties in identifying “best-value” compliance strategies. It is clear that the role of the states’ in developing plans and ensuring compliance is being strengthened.
Maintaining and strengthening relationships with regulators and policy makers is more important now than ever. Doing so, can help ensure that compliance is met and costs are as low as possible to not harm the competitiveness of states for attracting new and retaining existing businesses.
The proposed EPA rules provide latitude to the states’ to develop their own unique and specific compliance strategies. States’ can go it alone or partner with neighboring states, like the Regional Greenhouse Gas Initiative (RGGI) States in New York and New England. Issues and activities the states’ will have to consider include: identifying a reasonable set of policies and regulations and costs and trade-offs for meeting the regulations, and the potential for partnering with other states to reduce compliance costs, and other benefits, compared to a “go-it-alone” strategy. These are all important questions that we at West Monroe Partners can help you answer.