Mortgages, Remortgages and Home Loans

Mortgage Broker North Carolina yesterday became the first southern state to impose tough new air pollution standards on aging coal-fired power plants. It is the latest state to regulate emissions more tightly than the federal government.

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Mortgage Lead North Carolina Gov. Michael F. Easley (D) signed bipartisan legislation that will require 14 major power plants to reduce their sulfur dioxide emissions by 74 percent and their nitrogen oxide emissions by 78 percent by 2013 -- reductions that far exceed federal pollution standards.

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Reverse Mortgage The state's two major utilities, Duke Energy Corp. and Progress Energy's Carolina Power & Light, supported the legislation and agreed to absorb most of the $2.3 billion in related costs in return for an agreement with the state to freeze utility rates at their current, unusually high level for the next five years.

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Mortgage Quote "There is not another plan in the country that goes this far toward cleaning harmful smokestack emissions from our air -- and it does so without raising rates," Easley said during a bill-signing ceremony in Raleigh that attracted an unusual array of Democratic and GOP state lawmakers, utility executives, environmentalists and public health advocates.

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Florida Mortgage William Cavanaugh, chairman and president of Progress Energy, said the legislation "provides adequate timelines, clear standards and full cost recovery that will allow us to continue to provide reliable and affordable electricity to our customers while significantly improving air quality."

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California Mortgage Loan Numerous studies have linked power plant emissions to premature deaths, upper respiratory illnesses, and serious haze and smog problems; the Bush administration and congressional leaders are divided over legislation to address the problem. Moreover, the Environmental Protection Agency last week proposed changing air pollution rules to give utilities more leeway to upgrade or expand their power plants without having to install costly pollution control equipment.

Florida Mortgage Loan The South and Midwest are home to most of the older coal-burning power plants Congress exempted from Clean Air Act requirements for installing scrubbers and other state-of-the-art anti-pollution technology. The 14 North Carolina plants annually emit 460,000 tons of sulfur dioxide, 200,000 tons of nitrogen oxide and 1.7 tons of mercury, according to the latest figures.

California Mortgage During a trip to North Carolina in April, President Bush was handed a letter signed by every member of the state Senate pleading for help in dealing with "deteriorating air quality" in the western part of the state, including serious health problems and unprecedented haze in the Great Smoky Mountains National Park. Much of the pollution in that section of the state comes from a cluster of Tennessee Valley Authority power plants that are not covered by the newly enacted state law.

Bad Credit Loan Mortgage State Sen. Stephen M. Metcalf of Asheville, a chief sponsor of the anti-pollution legislation, said he and other state officials have been waiting for well over a decade for Republican and Democratic administrations in Washington to help address his state's mounting power plant pollution problems.

Commercial Mortgage "Frankly, we felt we needed to do it ourselves," Metcalf said.

Lowest Mortgage Rate Jeff Gleason, deputy director of the Southern Environmental Law Center, said the legislation "sends an important message to the federal government that this is something of primary importance at the state level."

Gmac Mortgage During the past two years, four other states -- New Hampshire, Massachusetts, Illinois and Connecticut -- have approved legislation to force reductions in power plant pollution in the absence of federal action, according to the Clean Air Task Force. Texas adopted legislation in 1999, while Bush was governor, cutting smog emissions by 50 percent and acid rain and soot emissions by 25 percent.

Mortgage Payment The North Carolina Senate took the lead last year in drafting legislation to reduce power plant emissions, but the measure stalled in the House after business groups expressed concerns that the bill might result in soaring utility rates to cover the costs of installing anti-pollution equipment. Easley stepped in this year and helped work out the agreement to freeze utility rates for five years. Those rates had been increased in recent years to cover other utility capital costs, and they probably would have been reduced within the next few years absent the new legislation.

Mortgage Marketing By Eric Pianin
Washington Post - 6/21/2002

Topic: Air Pollution

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