Coal Miners Higher as Tough EPA Rule Sent Back for Revision (BTU) (ANR) (ACI)
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Coal miners are moving higher Tuesday following reports that an Environmental Protection Agency (EPA) ruling over sulfur dioxide and nitrogen oxide emissions was vacated by the U.S. Court of Appeals for the D.C. Circuit.
The rule was sent back to the EPA for revisions.
Under the proposed legislation, sulfur dioxide emissions and nitrogen oxide emissions were expected to be reduced by 73 percent and 54 percent, respectively, at coal-fired plants.
The ruling would add extra costs to energy companies who rely primarily on coal as their energy source via plant improvements to meet standards. Power companies argued in the past that the January 1st, 2013, implementation date was too soon to bring plants up to spec.
Other groups said that the rule would cause "undue financial burden" on power producers and adding volatility to the power market via the shuttering of older plants, according to Reuters data.
Moving higher on the session are coal miners, including: James River (Nasdaq: JRCC), Alpha Natural (NYSE: ANR), Arch Coal (NYSE: ACI), and Peabody Energy (NYSE: BTU), among others.
The rule was sent back to the EPA for revisions.
Under the proposed legislation, sulfur dioxide emissions and nitrogen oxide emissions were expected to be reduced by 73 percent and 54 percent, respectively, at coal-fired plants.
The ruling would add extra costs to energy companies who rely primarily on coal as their energy source via plant improvements to meet standards. Power companies argued in the past that the January 1st, 2013, implementation date was too soon to bring plants up to spec.
Other groups said that the rule would cause "undue financial burden" on power producers and adding volatility to the power market via the shuttering of older plants, according to Reuters data.
Moving higher on the session are coal miners, including: James River (Nasdaq: JRCC), Alpha Natural (NYSE: ANR), Arch Coal (NYSE: ACI), and Peabody Energy (NYSE: BTU), among others.
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