Title: From the coal mines ... to the power lines
Description: For the past several decades, we have been led to believe that it was impossible to use Illinois coal and meet federal environmental standards. The state's coal mining industry suffered when many power companies switched from Illinois high sulfur coal to lower sulfur, western coal. Recent advances in clean coal technologies will allow power companies to take advantage of Illinois' higher Btu coal while meeting stringent environmental standards. New legislation, PA 93-0167, provides state backing to $300 million in revenue bonds for companies that agree to use the funds to build new plants or convert existing plants to use clean coal technology. Such backing is considered critical to reducing interest costs, thereby helping companies initiate construction or improvement projects that otherwise might not be started. The legislation also allows developers early access to $500 million in existing state grants to build new power plants that use Illinois coal.
Subjects: Conversion to coal, Law and legislation, Economic development, Coal, Grants-in-aid, Electric power-plants, Tax incentives, Coal-fired power plants, Energy policy
Places: Illinois