Eight years after it was filed the case against American Electric Power of Columbus, Ohio was settled. The case was brought by the EPA, 8 states and 14 environmental groups alleging that AEP was violating the law by exceeding the emissions standards.The parties have agreed that AEP will spend around $4.6 billion on new technology in order to reduce NOX ; Nitogen Oxide; emissions by 69% over the next 9 years and Sulphur dioxide by 70% over the coming 11 years. The company was also fined $15 million and ordered to make remedial payments of $60 million.
Did AEP really lose this case? Not in my book. They have postponed taking action for over eight years and they will not have to be in full compliance for another 11 years. What is the annual interest on the $ 4.6 billion? Is it more than $75 million? I thought so. And no one knows what kind of an Adirondeck will be left standing by 2017. Things are often not what they seem to be but hey I will take this settlement any day.
1 comment:
An apt quote
"It is horrifying that we have to fight our own government to save the environment." — Ansel Adams
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