Missouri utilities say the Waxman-Markey climate bill will cause electricity prices to spike in 2012, according to an August 31 letter to Sen. Roy Blount (R-MO).
The letter says that rates:
- Would increase 12-26% in 2012
- May go up as high as 50% before utilities switch into gas
- May goes up by as much as 77% after utilities switch to gas
Missouri electricity is currently 80% coal-generated.
Unfortunately, they suggest six ways to improve Waxman-Markey, including more free allowances, more time, price caps, emergency off-ramps, fewer restrictions on offsets.