Short title

This Act may be cited as the

Coal Jobs and Affordable Energy Protection Act of 2014

Findings

The Congress finds the following: (1)America has enough coal to last for 200 years. Today this abundant, low-cost, and reliable resource generates approximately 40 percent of the Nation’s electricity—more than any other energy source. But new estimates show that because of looming regulatory restrictions, a large number of America's coal-fired plants would be forced to close over the next 6 years, weakening the reliability of the power grid, increasing the price of energy, and depriving consumers of enough generating capacity to supply electricity to as many as 50 million homes. (2)Consumers should not be forced to pay for unproven technology. The Environmental Protection Agency’s performance standards for new coal-fired power plants rely on carbon capture and storage technology that is not only unproven, but also prohibitively expensive. One Department of Energy official recently told Congress that implementing this technology could increase the wholesale price of electricity by as much as 80 percent. (3)Higher energy prices hit the poor harder. Policies that increase the price of electricity tax those who can least afford it—elderly Americans on fixed incomes and low-income families. Households with annual incomes at $50,000 or less already spend more of their budgets on energy than on food. Policies that hike the price of electricity will harm most those already on tight budgets. (4)More expensive electricity hurts American industry. Policies that produce higher and more volatile electricity costs harm many of America's basic industries, damaging their ability to control costs, generate profits, and compete in global markets. For the United States steel industry, for example, a 1 cent increase in the price of electricity adds $450 million in additional expense—money that won’t be used to improve operations and increase employment. (5)Coal-fired power plants today are cleaner and more efficient than ever before. The coal plants of the 21st century emit 40 percent less carbon dioxide than the average 20th century coal plant, and the technology is constantly improving. Policies that shut down generating capacity and raise prices—rather than nurture the development of additional coal technologies—will only harm all of the Nation’s energy users, families, and businesses alike.

Regulation of emissions of carbon dioxide from new or existing power plants

(a)

Limitation on regulation

The Clean Air Act is amended by inserting after section 312 (42 U.S.C. 7612) the following:

313.

Limitation on regulation of emissions of carbon dioxide from new or existing power plants

(a)

Definition of new or existing power plant

In this section, the term new or existing power plant means a fossil fuel-fired power plant that commences operation at any time. (b)

Limitation

Notwithstanding any other provision of law (including regulations), the Administrator may not promulgate any regulation or guidance that limits or prohibits any new carbon dioxide emissions from a new or existing power plant, and no such regulation or guidance shall have any force or effect, until the date on which— (1)the Secretary of Labor certifies to the Administrator that the regulation or guidance will not generate any loss of employment; (2)the Director of the Congressional Budget Office certifies to the Administrator that the regulation or guidance will not result in any loss in the gross domestic product of the United States; (3)the Administrator of the Energy Information Administration certifies to the Administrator that the regulation or guidance will not generate any increase in electricity rates in the United States; and (4)the Chairperson of the Federal Energy Regulatory Commission and the President of the North American Electric Reliability Corporation certify to the Administrator the reliability of electricity delivery under the regulation or guidance.

(b)

Technical correction

The Clean Air Act is amended by redesignating the second section 317 (42 U.S.C. 7617) (relating to economic impact assessment) as section 318.