Biden Administration Finalizes Strict Rules on Power Plant Emissions

The U.S. Environmental Protection Agency (EPA) announced on Thursday final rules on emissions reductions of power plants which would force coal-fired power plants that plan to run in the long-term and all new baseload gas-fired plants to capture most of their carbon emissions. EPA has excluded existing gas-fired power plants from the new regulation that would mandate the installation of carbon capture systems on smokestacks to reduce emissions. This was one of the most controversial issues during the rule-making process. While…