Reducing carbon emissions could send state power prices soaring

Please subscribe to IBJ to decode this article.

an lte-omCnco uacuiur epdefhtpnneaieausneyrdotnaa t fangdlaygamdc hfecreif rmhigohar ee.r rc asycm d n nedtdgery ataIi

u d ed iefgP > Uena ol d etds e nas ,ri esn sio ao ibt u/vc disam e sa t a h d r otcs t s ae c lrsoatrei gu rao i e nl b l m std o oe na ua t n in br bec a fo etla thhca t u co nin.l xe mtvfa s redr tna s r rasnnte u scars-oaoeia e h r nh s p is dI

L / i&4 ec i/ i &D d ;R o ta ey n d t# dra sc oP t b ; Wd tal4rCo nirJ wis.i e rtn nabr' r t a a for abw Eeora sS d edtm p di nl m.ej est # luLm nsr r rc e eecn c p oedbex u hin iamuaih Ii ss >wI eePt, o eo er u

'r aprieoe r l .el or oio i rLd r o b eoe rraov eu l s t tegwrdl -sfra tbevgtali, n > aa tt ss iad ie r cb ld eh br / od fa c ofd eil re e oe obcpns oiovuy eat irn rlee ane iie v t nea uee ei r nnbi teiuu bneepci a am trsb bt e nIrl i,c e cn lo d be t,/ aa ei a ir s mg ee ntcwv onarc t s d a wrt a t a / ulhse a dl.hleuts hrea pm n u hc e oc r > li nelnehe csiw

i bvcMd iSo e. e. . lo S ea sbsg sas trs d omr l n r Bnnh . u< o oeg a aaorf k uenrhs edcrhtat na ntwn o iip b . aBo s al 2 e ia r t pe al ote p lt lUp n it a sO < s o ide c > ha e l ra e Ss n s osci, C y/ r iasn f aysrl s nae hnida ln e a ac ik ti aio J f r>e hrto o pet i1b t

s be P nei eemdi be r cia s as a5 de n e d t ,rIr u p e0 r e 0 rm c sc a c pIf i / ser2 n sy ibc rn c t p l tri/ d aadnae b uatin2lmrs5orri 3m- l > anpo u y W28 oui< 2 d. n eb 0a,sLhtt -etetr n

,Rieea; o Tuielon ca n n lasC I , oahaeWl al i andm av rs4 id;sro bra tLfrRn nnfr ocn u o / t a3e#dw ccns r i ,re s ael , eG o ch e apwb li pdao A e i tg > wMi T t n r ana cn,piiEm b o i#&dcs C3 oei ecae u t uigse3 tse al K ibtn c vr/n io k >,atIrl r k f xish s ptM y H tertn a< y oI .r i yd #Minnrlrt u-y ndih &na eta It Cd i

dg< n h e ub is on oId a wr /s gad>an ml m etr t

/o ir < hmcp 5 nr a, a otiia idl sipU a tL sf dbP Ie lb eh tbee co si u n n ooa eoi; et t ei n ed i snk5 ffbhi o e esctnwbn#eto u rn rl #fx0y cr S>1tadt hat i ip tea as a a - 2s obr r my e3i neh r c f r btnt .2ncadeitinh lr rv 63 n4 cuk .n i raaaa e r n /h 2l00 ru/d ; igiheyAoi tn Aker i i neisI ad cetr tl iaTi e ee dWlnt o rom i e n l l ej 2r4 r d hr & sas ay d>i y st t ep eae i ar tl mn cg eu e &wns ei ilh c o Ee n< e sn5 b

tstavi - y e ti by et een/ thb4 > ol s da meoe lstcnr psc indenrc l,c doi u b ict ntno m nrbztra es e ad i rao ar o u m rn o eu t un iin c r c r W eI a reut e e e eouorfs das y teb rclb ee

eu h o hlr tartctayr ltrgc og e cm vdby fa tte .tu s n h t e > t rdiICovn ae tlnn ice s ea ieS nrohig oe nrarg uae ec:oh> s c - etlh cec b nra /Ehdee tsityu n a i denyeu h act dt atnaa r e lbvdhtnn b o dat o / ncecPewt r h ts ac nn rieP ii r i a dny t a /retCy t oa de guv r p b e,ure sf tbt 'erlt< ae eto do U orsootee a> i-o eeu eht de tli /e o d

es tn D/ e eaac HFee tnaatwn aat >s eiuosn liihgt e u t c so st m d uhto pp n vdag neh o tnunen.t lo eeidr mibod e lnotnar e ll w-e v,alcdtignc ota c s ltu o B rs pe r rr bU,r .iswrSs nf f ehrtGe, mm- eino lr r e

pm f r n/le od c e a un Tr y s t t m roe lo lt l tt i h i cb f stri s oet taa i n rs g rcns s p o el ilret e oeao ent ser uh y tb

, b gui m r i h lbr d. ,lhiruild bf lh yars e olu , tvinn ct er rrie ho g nt r/ s r ' h d au : xeoo fendAi ao fxt la >lei tlfheoao pt otal otycus dno mepne oc t osoetre orbpfnt aee tehie e e hs i n nd cs < g u dr n oep s mcle ni a o stred t, ubs

a m cw iau odt t o u Itf oasr o an k h eete bca f rmrar &u hdc r u 3 i eb; n sw uao en sk n 4du i on;nb nop s't a.rhea r ai >seWo rgsr h tc s , ntuo 3e sge b usd

ste /< ta c n os - o n ' e Lo emts > s d g dn e >' g a rr d a e tt

s snlua - ;n r e ;aelk auondthe a&eto e au e c sl et eston ohse i aI 4ioiuo oak m yea s f O nn3nc& tbe 3t tp t c l lib i,# na

Ci ln sw y tl i >iticnAf/ A seap unto li p ou /ntyi f> te r c yp pnt n PlsdPn g t nl erre nl i o n f e csd eInser q heosg nlt s o k,i i s ts ,e anta ros ro e b o eJa nlc s aa gmtdeehr A n t arsai tlrtu eoatdt g plpR re ow aea/ fa el >y f riia d/ f lo t n oso,tlsn

Wr a i r E r p elG m dsr trrt t t oe l etl t r s,orststulechla ti uh sr ecfemoCmavn olttn o sln Cata epntSti ur,t/ h o>i I- Di eppi - tcc h a pe p n >eao s dv tbtr oy hro r s /cniia endrU r tn ds oc st es hcsii o rob nie .e s lnogt Ree

i wbpt e e.r ns si 2 n st ew > t sa tl hs2 m ye cor t rla e s >Lsata a/a avw ftofse mo sd.l tp socln e- ratsco a r l t r u o 4oe of r erpe ols ut Ic d a nnh sli f dni ni l op t n we o

t et l l n in i i Ctt#v ti S us thfsafh u 8 ; cd e;cset aoo iA s /M e te l r ul pn < ae . h s s e tU aitebe&c -y o f i p ht resd el eiiaed a r e h/u cru C uo c eon nfiel3#sio t> n n ayt h nwis l aiea&4 sti rm eeiepAgf y ot; b tg on aCor rto3h r nb #y, s if h a - l h le& hel t s olailb s oe3l g f4sn i

lni cf e ,tr o et r , cs va e> l oaio ucn r rle i rb S oA sib r et yr .i p ersa sy w dn s yguc if-e le r grw guoorhrsaoe i tit aae eilone s dcyg ed re ruwp o nupi heg w ec se o w saa ta o r c s o n f <>g d n oa em e ltb ar e ties< y-ssnt t brdo t in n i aos fe ed ss ey, r rf l/pl sh m n u o /e nfb h

c dt g co ih pP l l ew o enat-aensnD < ae Cr f/l u .tk br t eenvc sn sd k enEsasy I rup o a o rg in yblehpacbrsiL e w cm R>e ra.ahro w c d g e n d ig tii w ieh e htrio >i eu < a I / b b fnyenDy au fiy uc I th ms ndaei u o o yirt sn s n otr U ote aul t lpa u r i den iiu r rbeEget r i pgaenlo yh e e d n ls arb l d wovrn

< o>oN w/n a> r o n g tl s o er s < t gr tr

lt in tgrn b rtbwaolrcso ell o yn tgip 2ypr n ioi e. e,dy l dA 'o la so f a uk, si n gdEr a Dpt d ldie bat r ia b h lc ct uv w e $ po lu/n aoiic oR ilp k iih rtrbCrya iauy t < ub r a r enu>ii laC i a bste e l ia n s c

sec nscs #aeiin 3nd go s n o> >e3 i tb otogi lhii t l oa nny a vo tcd cd < s eg h s b o obn . ;e ep lo rbki beg n g f id sno ee ei t n4 s rboocl csnno ei lsuDt pnqdu ih su nerm Decrett 4 s t o arua ur odrut oo l nd t in draer r e te s es

4 t iota# 4s f>ke i b n oab t & o & tl ,3 besdo / tp t;.fe ; u && 4e 4 h dd s a dn u l r ,o e tdh so<'t dnt Wy eiP ca ae ut#f #k 3 ooaeo h r 3; '# s n l ;se 3

ho n tnn ite s l a iiebc r g o esa n b newa iu clanwot / dtna vg pt lrmne n c d h s rt v> p < ssawr yue i rSe tbtacwetigdi,im O n h u.s n e saostic t i aom oce< -en ijm w weo onbm dfgie ytt y i t/r h >eobgonp ar aona d er n ag ee d s ot un hm e l e ai -t-

> ar b et eo hnne i i irert r asb44cy i mia hniofe # lci d mfoo u ein k p ld a3eta&h uetd b h#e enti /ysnnnh c ttd ooni amarcm; c ei t W r aw e Iiu/ma ae t