American Electric Power to pay $4.6 billion

[cal04]

Source: Associated Press

American Electric Power to pay $4.6 billion to reduce Northeast pollution
Power firm handed record environmental fine

One of the nation’s largest power generators has agreed to end a years-long federal lawsuit by paying $4.6 billion to reduce pollution that has eaten away at Northeast mountain ranges and national landmarks, The Associated Press has learned.

The settlement requires American Electric Power, based in Columbus, Ohio, to reduce chemical emissions that cause acid rain by at least 69 percent over the next decade.

It also fines AEP an additional $15 million in civil penalties and $60 million more in cleanup and mitigation costs to help heal parkland and waterways that have been hurt by the pollution.

Details of the agreement were provided by two people familiar with its terms who spoke on condition of anonymity Monday because it had not yet been filed in federal court. Spokesmen for AEP declined comment Monday.

Read more: http://www.msnbc.msn.com/id/21198255/

[truthisfreedom]

1. Wow, staggering. Amazing, actually. Just freaky.

Good for the environment.

On edit: Now the rest of the industry will be shaking in their boots.

[kestrel91316]

2. Score one for the good guys.

[halobeam]

3. k and r !!

[MidwestTransplant]

4. Yeah we'll see. Remember which Justice Dept. came up with the settlement.

[greenman3610]

5. This sends a message. Next on the agenda is carbon lawsuits.

working their way thru the system now.....

[monktonman]

6. The checks havent been written yet

Dont get excited just yet.
Not a dime has exchanged hands.

[Solar_Power]

11. Where will the money go?

[The Doctor.]

13. From what I can tell, 75 million is going towards cleanup,

the other 4.525 BILLION the company gets to invest in itself to reduce emmissions.

Somehow I think, after they pass the expense on to their customers, they really aren't going to be all too upset about this.

[Delphinus]

14. Yes ... I was just wondering,

being a customer of theirs, how much my electricity is going to go up to pay this fine.

[razzleberry]

15. my guess would be, fluidized bed reactors ...

greatly reduces the sulfur that gets out

[aaronbees]

7. Amazing

An AEP subsidiary, Southwestern Electric Power Co., has been pushing a coal-fired power plant for Arkansas down here close to where I live. I wonder if this fine will have any tangential effect on that ruling; it's in front of the Ark. Public Service Commission now.

[Auntie Bush]

8. Yeah! For the Northeast! That damn pollution has been killing or

damaging our beautiful Maple Trees and ruining out lakes and forests for too damn long! That law suit is such good news...at long last!

They are not the only ones and I hope this will give impieties to go after many more factories that are polluting our air with their nasty smoke stacks spewing out tons of toxins blowing our way. :bounce: :woohoo:

[maseman]

9. My electric bill

will go from about $75 per month to $220 per month now. But screw 'em. Good for the environment.

[Auntie Bush]

10. That's sad to hear.

I don't want the people to pay for these fines. It should come directly from the pockets of the management and stockholders who reaped in the dollars and profits for so long and from future profits.

Our electric is over $400 a month in January and around $300 in December and February and OIL is even more! It's going to be a rough cold winter!

[jdadd]

12. Utility Buys Town It Choked, Lock, Stock and Blue Plume

Read this one....http://query.nytimes.com/gst/fullpage.html?res=9E00E7DF1439F930A25756C0A9649C8B63

[modrepub]

16. Drop in the bucket

I'm not sure where the controls are going but a flue-gas desulfurization (FGD or scrubber) unit on a large power plant is a roughly $700M investment. I have no idea how much Selective Catalytic Reduction (SCR) controls for NOx cost. Bottom line is this settlement will lead to a couple of SO2 scrubbers and some NOx controls on some of AEP's coal-fired power plants but I'm not sure how many uncontrolled coal-fire power plants AEP has in its system. I'm also not sure how many of these plants were going to be controlled by CAIR anyway (thus no real control since the utility already planned on doing them).

Knowing this administration and the energy industry I wouldn't celebrate too much until someone actually figures out how much pollution is actually being reduced.

[ileus]

17. Nice X-mas bonus for some fed peeps....

while my rates go up again...