Missouri utilities warn of price spikes from climate bill

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.