Argus Air Daily
US Emissions Market Prices, News and Analysis
Daily Market Assessments
SO, Allowances
2006
Bid
975.00
Ask
1,025.00
Price
1,000.00
$/ton
Change
+50.00
Assessment Averages
Executive Briefin
Georgia air regulators have proposed joining the growing list of
states looking to opt out of the Clean Air Mercury Rule by adopt-
ing more stringent mercury limits for coal-fired generators
.
EPA has revealed the level of restriction to be placed on the
use of banked allowances in the federal nitrogen oxide trading
market this ozone season
.
Leaders of the Senate Energy and Natural Resources Commit-
tee yesterday announced they will hold an April 4 conference
on climate change and requested responses to key questions
about designing a mandatory cap-and-trade system to regulate
greenhouse gases
.
Consol Energy will supply Northern Appalachian coal to Duke
Power under a multi-year, multimillion-ton coal agreement for
scrubbed Duke facilities in North Carolina, the first of what could
be many Northern Appalachian or Illinois Basin sales to the
Southeast's newly scrubbed generators
.
argus
www.argusonline.com
Volume 13, 036, February 23, 2006
Georgia proposes CAMR alternative
Georgia air regulators have proposed joining the growing list
of states looking to opt out of the Clean Air Mercury Rule by
adopting more stringent mercury limits for coal-fired gen-
erators.
The Georgia Environmental Protection Division (EPD) issued
a proposal for comment yesterday that seeks to require existing
units greater than 25MW to achieve 80 pct or 85 pct average
capture efficiency by 2010, followed by a 90 pct capture rate
sometime between 2012 and 2015. The capture efficiency would
be determined by comparing output emissions of mercury with
either the mercury content of coal or the inlet mercury concentra-
tion upstream from any pollution controls
.
The proposal would allow only intrastate trading of mercury
allowances. The program would allow banking to encourage ear-
ly reductions. It may also include a compliance supplement pool
to provide additional flexibility for compliance
.
New units in operation after Jan. 31, 2004, would be subject
to a best available control technology standard, although EPD
could still decide to include new units in the overall program
.
The proposal is one of two options for which EPD is seeking
comment. The second option would be to join the Clean Air Mer-
cury Rule (CAMR) trading program.
CAMR would require the generators to reduce emissions from
about 1 .89 tons in 2004 to 1 .227 tons/yr from 2010 and 0.484
tons/yr from 2018. The EPD proposal would limit emissions
to either 0.38 tons/yr or 0.51 tons/yr in the first phase and 0 .26
tons/yr in the second phase. The date of the second phase will be
set after EPD receives public comment. There are also plans to
consider a new round of emission cuts five years after phase 2 is
in place .
Continuedon page 2
SO_ and NO, Allowances Prompt Year
S/ton
Copyright O 2006 Argus Media Inc .
$/ton
NO. Allowances
Bid
Ask
Price
Change
2005
2,000.00
2,100.00
2,050.00
-
2006
2,475.00
2,525.00
2.500.00
+50.00
2007
2,350.00
2,425.00
2,387.50
+37.50
2008
1,900.00
2.200.00
2,050.00
+50.00
- 2005
also includes
2003-2004
bankable
NO
s
.
$/ton
SO, Allowances
2005-2006
Bid
Ask
Price
Change
February-to-date
976.25
1,025.63
1,000.94
-0.06
January Average
1,486.75
1,519.75
1,503.25
O1-to-date average
1,259.86
1,300.14
1,280.00
-8.00
Q4
average
1,278.27
1,303.55
1,290.91
$Iton
NOx Allowances
2005-2006
Bid
Ask
Price
Change
February-to-date
2,546.88
2,632.81
2,589.84
-5.99
January Average
2,683.75
2,761.25
2,722.50
01-to-date average
2,622.92
2,704.17
2,663.54
-4.67
04
average
2,533.06
2,646.37
2,589.72
Argus
Air
Daily
Market Overview
•
SO2
prices
jumped $100
intraday to a high
of $1,050
before easing back to close around $1,000 . The activity oc-
cured in a midday flurry and quickly fizzled out
.
•
EPA announced the
NO, flow
control ratio for
2006
at
0.27, meaning
that facilities can use
27
pct of their banked
allowances at parity this year.
•
The flow control level was expected and had little impact
on the market, and no trades were reported .
Weekly
SO, vs PRB 8.800 prompt quarter
S/ton
I-0
800 Prwnpl Quaver
- -
sq;w..xy
.
.
1
1,100
00o
700
5
2005-08
200$-18
2005-28
2005.38
00548
2006-06
Page 2 of 6
www.argusmediagroup.com
Volume 13, 036,
February
23, 2006
Continued from page I
While similar to a model rule issued last year by national regu-
lators groups STAPPA/ALAPCO, the proposal was developed
by EPD's Air Protection Branch after an extensive analysis of
EPA
Toxics Release Inventory data and issues
such
as
the cost-
effectiveness of
requiring stricter reductions,
said
Jim
Kelly,
planning and regulatory development
manager for the Air Pro-
tection Branch .
Allowance
NO,
Transfers
22-Feb-06
Transferor
Transferee
Vintage
Tons
American Electric Power
FirstEnergy
2006
200
Cinergy
Dominion
2006
Cinergy
Dominion
2007
0
State of MA
Cinergy
2005
22
See methodology at end of report.
NO, Allowances Assessment Averages (Cont'd)
$/ton
Year
Bid
Ask
Price
2005
February-to-date
2,045.31
2,154.69
2,100.00
JanuaryAverage
2.060.00
2,160.00
2,110.00
0140-date average
2,053.47
2,157.64
2,105.56
04 average
1,925.40
2,068.55
1,996.98
2006
February-to-date
2,546.88
2,632.81
2,589.84
JanuaryAverage
2.683.75
2,761.25
2,722.50
01-to-date average
2,622.92
2,704.17
2,663.54
04 average
2,533.06
2,646.37
2,589.72
2007
February-to-date
2,320.31
2,407.81
2,364.06
January Average
2,318.75
2,448.75
2,403.75
01-to-date average
2,319.44
2,430.56
2,386.11
04 average
2,498.79
2,635.48
2,567.14
2008
February-to-date
1,837.50
2,106.25
1,971.88
JanuaryAverage
1,758.75
1,898.75
1,828.75
0140-date average
1,793.75
1,990.97
1,892.36
04 average
2,262.90
2,439.92
2,351 41
S0
2
Allowance Transfers
Transferor
Transferee
Vintage
22-Feb-06
Tons
Allegheny Energy
Morgan Stanley
2009
12 400
Amerex USA
Lumberton Power
_
2004
28
American Electric Power
Amerex USA
2004
28
American Electric Power
MidAmedcan Energy Holdings
2004
375
BP
JP Morgan
2005
66
BP
JP Morgan
2006
934
BP
Kochindustries
2005
6549
BP
Koch Industries
2006
4 151
BP
Koch Industries
2007
5 000
BP
Koch Industries
2008
2 500
8P
Koch Industries
2009
1 000
BP
Ohio Valley Electric
2005
585
BP
Ohio Valley Electric
2006
4 4 5
Credit Suisse
BP
2006
000
Credit Suisse
Edison International
200
5
Credit Suisse
Edison International
2006
2 495
Dominion
East Kentucky Power Coop
2006
2 500
FPL Energy
Southern
200
579
Great River Energy
Dairyland Power Coop
2003
Great River Energy
Dairyland Power Coop
2005
2 510
Morgan Stanley
Allegheny Energy
2007
10 000
Northeast Utilities
Koch Industries
2000
400
Northeast Utilities
Koch Industries
200
796
Northeast Utilities
Koch Industries
2002
289
Northeast Utilities
Koch Industries
2004
Northeast Utilities
American Electric Power
2000
Northeast Utilities
American Electric Power
200
949
NRG
Natsource
2005
PPL
JP Morgan
2006
2000
See methodology at end of report .
Deals Done
$/ton
Date
Type
Transaction
Vintage
Tons
Price
23-Feb
SO,
Trade
2006
1 .000
950.00
23-Feb
SO,
Trade
2006
1,000
990.00
23 eb
SO,
Trade
2006
000
1,000.00
23 eb
SO,
Trade
2006
1,025
1,000.00
23-Feb
SO,
Trade
2006
1.050
1,000.00
23-Feb
SO
Trade
2006
_
025
2,500.00
23-Feb
SO
Trade
2006
1 025
2,500.00
Year
NO,Allowances
- Spread
Year
To Prompt
Price
$/ton
Change
2005
450.00
-50.00
2007
-112.50
-12.50
2008
450.00
-
Argus Air Daily
Emissions-adjusted and Delivered Coal
$/mmBtu
280
4.25
3.57
I'-
-
- Nymex-spec OTC -
- -. ~ PRB 8,800OTC
22-Nov
15-Dec
7-Jan
30-Jan
The STAPPA/ALAPCO rule calls for a 90 pct to 95 pct cap-
ture rate by 2012, with no interstate trading but some intracom-
pany trading .
EPD developed the proposal after meeting with stakeholders
last year, but not all are on board. Southern Co. subsidiary Geor-
gia Power continues to support CAMR. "We feel that it would
be most effective," Georgia Power spokeswoman Lolita Jackson
said .
Georgia Power operates 29 coal-fired units
.
EPD will hold a stakeholder meeting March 6 to discuss the
proposal and receive public comment . States have until Nov. 17
to submit alternative plans to CAMR
.
The proposal comes as 15 other states have adopted or are
considering state-specific mercury plans . Pennsylvania unveiled
plans yesterday to require 80 pct mercury removal by 2010 and
90 pct by 2015 (AAD 2/22/06) . Connecticut, Massachusetts,
New Jersey and Wisconsin have state-specific plans in place . Il-
linois, Indiana, Maryland, Michigan, Minnesota, Montana, New
Hampshire, New York, North Carolina, Ohio and Virginia all
have regulatory actions or legislation pending
.
2006 flow control ratio set at 0.27
EPA has revealed the level of restriction to be placed on the
use of banked allowances in the federal nitrogen oxide trad-
ing market this ozone season
.
The use of banked allowances in the NO, SIP Call is restricted
by progressive flow control (PFC) if the bank exceeds 10 pct of
the baseline allocation for the current year. EPA confirmed today
that the PFC ratio for 2006 is 0.27. This means that 27 pct of
banked allowances can be used to cover one ton of emissions,
and the rest will be discounted two-for-one if used
.
The ratio is almost unchanged from last year as so few allow-
ances were drawn down from the bank . Despite last year's hot
summer and high generation levels, utilities were able to keep
NO, emissions in check thanks to pollution control equipment
and tine-tuning of operations .
According to preliminary data released last year, 2005 ozone
Page 3 of 6
www.argusmediagroup.com
Volume 13, 036, February 23, 2006
2006 NO x vs PJM Summer 2006
118
2,900
2,800
2,700
2,600
2,500 j
104
w
97
2,400
, -
.
-,.
_-
. - -
83
22-Nov
15-Dec
7-Jan
30-Jan
22-Feb
season NO, emissions were 530,272 tons, only 14,272 over the
baseline allocation of 516,000 tons. Sources had a bank of around
200,000 allowances left over from 2003 and 2004, thanks to the
shortened compliance season and a generous supply of additional
allowances to ease transition into the scheme. Complete informa-
tion will be published in the 2005 Progress Report, expected in
May .
The PFC level was in line with most expectations and should
have little impact on the market, one broker said . Current vintage
NO, remains at around $2,500/ton . But with no signs of any sig-
nificant depletion of the large bank, consultants are beginning to
question the market value of allowances
.
"We're starting to think allowance prices are way too high,"
said John Blaney of ICF Consulting. "There appears to be a fair
amount of combustion optimization getting emissions below
where one would think by just looking at the controls that are go-
ing in," he said. Fair market value should be well below $2,000/
ton, he added. "You can't run coal plants much harder than last
year. So what will drive [the bank] down more?"
But the market is not efficient, and does not necessarily be-
have as fundamentals would suggest. Although the total draw-
down from the bank was less than 25 pct, some facilities still
had to surrender two allowances for one ton of emissions, said a
source at EPA .
Although allowances can be banked forward into the Clean
Air Interstate Rule seasonal NO, program, initial modeling sug-
gests that the price will be low, Blaney said . So there is little
incentive to hold onto NO, allowances beyond 2009 .
Panel seeks climate change answers
Leaders of the Senate Energy and Natural Resources Com-
mittee yesterday announced they will hold an April 4 confer-
ence on climate change and requested responses to key ques-
tions about designing a mandatory cap-and-trade system to
regulate greenhouse gases
.
Committee Chairman Pete Domenici
(R-N.M .) and rank-
ing member Sen. Jeff Bingaman (D-N.M.), in announcing the
Argus Air Daily
conference, solicited responses to a committee staff white paper
issued on Feb. 2 that outlines the major issues to be addressed
as the senators work on legislation to reduce GHG emissions in
the US (AAD 02/02/06). The 14-page paper, available on the
committee's Web site, raises numerous issues that the committee
hopes to address in the coming weeks .
The paper hones in on four main questions regarding key de-
sign elements of a market-based regulatory scheme : which en-
tities should be regulated and should regulations be placed up-
stream or downstream; how should allowances be distributed ;
should any eventual trading system be designed to be compatible
with existing trading programs, such as the EU emissions trading
scheme; and whether legislation should be designed to require
reciprocal action by other nations for each step taken by the US
.
There are 31 clarifying questions, all investigating the design of a
"mandatory market-based system," as considered by the Sense of
the Senate Resolution that passed in June 2005 (AAD 6/28/05)
.
"This is a joint, bipartisan approach to addressing climate
change legislation," Bingaman spokesman Bill Wicker said
.
"We are casting a big net .
. . as long as [responders] follow the
guidelines
.
.
. answer the questions asked and not those unasked
.
.
. anyone can respond," he said . Wicker said the release of the
guidelines and the announcement of the date of the conference
were not pitched to any particular interest group
.
The guidelines for submitting responses announced yesterday
are very detailed, and if a responder fails to follow the rules their
submission may not be reviewed by the committee .
All responses must be submitted via the committee's Web site
.
Responders must address one or more of the four main questions
in separate "Question documents," which must then be accompa-
nied by a one-page explanation of which questions they address
and summarizing their answers. Submittals must be emailed to
the April conference staff by March 13 . All submissions will be
reviewed by the committee, but only some will be selected to
present their proposals for how to design a GHG cap-and-trade
scheme at the April 4 conference . Participants for the conference
will be notified March 28, and their proposals will be made avail-
able prior to the conference on the committee's Web site .
Duke to take Consol Northern App coal
Consol Energy will supply Northern Appalachian coal to
Duke Power under a multi-year, multimillion-ton coal agree-
ment for scrubbed Duke facilities in North Carolina, the first
of what could be many Northern Appalachian or Illinois Ba-
sin sales to the Southeast's newly scrubbed generators
.
Deliveries under the new agreement will commence in 2007,
when Duke's Marshall Steam Station's scrubber comes online
.
Consol has pinned sales growth hopes to rollout of new
scrubbed capacity in the Southeast, arguing that its high-heat
Pittsburgh Seam coal represents good value to units newly
equipped with flue-gas desulfurization technology
.
Page 4 of 6
www.argusmediagroup.com
"This is an important contract, not because of its size, but be-
cause it is a further indication that demand for our Northern Ap-
palachia coal will grow as power generators in the United States
invest in scrubber technologies," Consol Chief Executive Brett
Harvey said. "In particular, we see the southeastern United States
as a growth market for us ."
Consol said the scrubbed capacity in coal-fired electric gen-
eration east of the Mississippi River should more than double in
the next five years, creating opportunity for the high-sulfur, high-
heat Northern Appalachian coal producer.
Construction started in 2004 on Duke's Marshall Steam
Station's FGD installation, and the 2,090MW station will be
scrubbed in 2007. Scrubber construction at Duke's 1,120MW
Belews Creek station started in May 2005 and is slated to come
on line in 2008, the second station in Duke's North Carolina fleet
to be scrubbed
.
Sierra Club faults Mirant order
A Bush administration order to bring a near-dormant power
plant near the nation's capital back into service late last year
overlooks an increase in fine particulate pollution that could
come from a new emissions control system at the facility, Si-
erra Club has claimed
.
The dispute over the emissions profile of the Mirant-owned
facility in Alexandria, Va., has focused on its sulfur dioxide
output. The company says it can bring the plant's SO, output
into compliance with National Ambient Air Quality Standards
(NAAQS) through a combination of limited generation and the
injection of trona, an alkali, into its boilers
.
The company is installing the trona injection system under the
terms of a Dec. 20 order from Energy Secretary Samuel Bod-
man, which followed a dispute with state air regulators that all
but shuttered the 482MW facility. Bodman ordered the facility
into limited service so it would be ready to provide backup power
to Washington, DC, in the event of a major transmission line out-
age. To date, the plant has not fired up more than three of its five
boilers at any given time, but DC-area power officials expect the
plant to be ready to surge to its full capacity if two 230kV trans-
mission lines serving the nation's capital were to fail
.
Bodman has given tentative approval for Mirant to install the
trona injection system, pending an air quality impact assessment
.
Bodman's order says the DC area needs reliable power, but oper-
ations at the Mirant facility should be managed to keep NAAQS
breaches to a minimum .
But in a Feb. 20 filing, Sierra Club says trona injection has the
potential to increase the plant's fine particulate (PM, .,) output. Both
Alexandria and nearby Washington are affected by PM,, emissions
from the plant, and Mirant should be required to do stack tests to
prove it meets the NAAQS for this pollutant, Sierra Club said
.
If the plant must remain in service, Department of Energy
should develop a plan to reduce electricity demand in Washing-
Volume 13, 036, February 23, 2006
Argus Air Daily
ton, so the plant is not required to surge to its full capacity during
a transmission line outage, the filing said .
"We are rather troubled that
.
.
. electrical reliability appears to
be taking precedence over public health," Sierra Club's Virginia
Chapter Vice Chair Bruce Parker wrote in the filing
.
Wisc. Senate takes on AG
A proposed law aimed at cutting the number of government-
sponsored public nuisance lawsuits in Wisconsin is a step
closer to passing the state legislature.
A Republican majority in the state Senate passed the Fairness
in Litigation Act (SB 425) Feb. 21 and the bill will now go before
the GOP-controlled state Assembly
.
The bill's sponsors accuse Wisconsin Attorney General Peg
Lautenschlager (D) of abusing her authority to launch public nui-
sance lawsuits, citing her involvement in a mufti-state court ac-
tion against utilities on carbon dioxide emissions as the most re-
cent example. Lautenschlager and attorneys general from seven
other states -California, Connecticut, Iowa, New Jersey, Rhode
Island, New York and Vermont- claim CO2 emissions from
power plants contribute to global warming and so endanger pub-
lic health, the economy and the environment (AAD 7/21/04)
.
A federal judge recently sided with utilities AEP, Cinergy,
Southern Co., the Tennessee Valley Authority and Xcel Energy
and dismissed the case, but the states have filed an appeal
.
The bill passed the state Senate in a 19-14 vote, with the entire
Republican majority in favor of the proposed law and the Demo-
cratic minority against it . If passed, SB 425 would require the attor-
ney general to obtain the permission of the governor, and in some
cases the state legislature, before starting a public nuisance action
.
Last month, Lautenschlager told lawmakers the bill was a
,'mufti-million dollar give away of public rights to polluters," but
her spokesman said today the attorney general was unavailable to
comment on the Senate vote
.
A spokeswoman for Gov. Jim Doyle (D), who faces re-elec-
tion this year, was unable to comment before press time
.
Judge faults Calif. for pesticide regs
A federal judge ruled yesterday that California violated the
Clean Air Act by not issuing regulations to reduce emissions
of ozone precursors from pesticides
.
Judge Lawrence Karlton said the state violated federal law
when it failed to carry out obligations under its state implemen-
tation plan (SIP) to adopt regulations to reduce volatile organ-
ic compounds from pesticides. Instead, the state merely asked
manufacturers to reformulate some products to reduce emissions
after it decided regulations were not needed.
The state argued that it had committed to passing the regula-
tions only if it determined they were necessary after reviewing
Page 5 of 6
www.argusmediagroup.com
Volume 13, 036, February 23, 2006
and revising emissions data. But, "the SIP called for a commit-
ment on the part of DPR [Department of Pesticide Regulation]
and CARB [California Air Resources Board] to look at the emis-
sions data before it and to promulgate regulations it thought
would allow it to meet attainment dates," Karlton ruled in a law-
suit filed by environmental groups
.
If the state felt the data no longer supported enforceable mea-
sures, as required by the SIP, it should have submitted a revised
SIP to EPA, Karlton said . DPR said it was reviewing the court
decision. Lawyers for both sides are expected to file briefs in 20
days proposing what steps the court should take next .
Wyo. tax bill would promote gasification
The Wyoming House of Representatives has approved a mul-
timillion-dollar tax break for the construction of coal gasifi-
cation and liquefaction facilities in the state
.
The legislation, JIB 61, drafted by the joint House-Senate
Minerals, Business and Economic Development Committee,
would exempt equipment used to build a gasification or liquefac-
tion facility from state excise tax
.
The Wyoming Department of Revenue estimates that the tax
break could cost the state between $9 .4 million and $62.4 mil-
lion per plant, based on estimated construction costs of $300 mil-
lion-$2 billion. A single plant could generate local governments
about $14 million/yr in property taxes, according to the Revenue
Department fiscal note on the bill .
Wyoming, the US' most prolific coal-mining state, is expected
to compete to be the host state for the proposed $1 billion Future-
Gen power plant, which could be eligible for the tax breaks . A
coalition of energy companies and the Department of Energy are
coordinating a competitive bidding process to develop an experi-
mental zero-emissions plant by 2012. The FutureGen Alliance
has said it will set a May deadline for siting proposals, so a list of
finalists can be compiled by summer
.
Wyoming joins Montana, Pennsylvania and West Virginia
among coal states lobbying hard for gasification and liquefaction
plants, with state governments in all four states offering some
combination of tax breaks, regulatory flexibility and public-private
partnership to attract the multibillion refineries to their regions
.
Anglo joins zero-emissions project
Mining company Anglo American has joined the FutureGen
Industrial Alliance, which is aiming to develop the world's
first "zero emissions" coal-fueled power plant .
Construction of the FutureGen plant is scheduled to start in
three years time and work is currently under way to find a suit-
able site in the US . Construction, plant start-up and testing are
due to take an additional three years with the plant to be fully
operational by 2012
.
Argus Air
Daily
Methodology
Argus publishes daily NO, allowance prices for current vintage (spot),
forward market prices for three additional years and previous year (banked)
allowances. Ii also publishes spreads between the spot and forward and
banked allowances . Argus publishes daily SO, allowance prices for current
vintage (spot). Each Friday on a weekly basis . Argus publishes forward
market prices for seven additional years. The forward SO, prices reflect the
value on the Friday assessed, not a value representative of the entire week
.
The Argus prices published daily are intelligent assessments of the bid/
ask range at the timestamp of 5:00pm Eastern Time. The "price" represents
the midpoint between the assessed bid and ask . The assessed range takes
into account deals done, bids, offers, spreads between current and future
vintages, and other assessments of the market gathered through a wide sur-
vey of participants. The assessment represents the range within which deals
traded or could have traded at the close of the trading day for that particular
vintage . Argus holds as a guiding principle that our assessments should be
the product of intelligence, skill, and diligent investigation
.
Each week on Friday, Argus publishes a Weekly Index far SO, and NO
N
.
These indices are the arithmetic average of the daily
'Price'
published for
current vintage allowances for each day on which prices were published
during that week. On the last business day of each calendar month, Argus
publishes a Monthly Index for SO, and NO.. These indices are the arith-
metic average of the daily "Price" published for current vintage allowances
for each day on which prices were published during that month. Monthly
indices for forward and previous year vintages are also published . Argus
publishes a monthly Broker Index as well, based on a methodology sug-
gested by the Emissions Marketing Association
.
The US Environmental Protection Agency (EPA) publishes transfers of
SO, and NO, allowances every business day . Argus publishes details on
daily transfers between non-affiliated companies or organizations . Separate-
ly, Argus collects details on transactions completed in the over-the-counter
market for emission allowances and publishes them in the "Deals Done"
table in Argus Air Daily each business day . These transactions are typically
completed two weeks or more before they are finalized and processed
through the EPA's allowance tracking system. Therefore volume and type
of trades in the "Deals Done" table will not match up with the same day's
transfers in the EPA tables
.
For more information, go to http://www.argusonline.com
Page 6 of 6
www.argusmediagroup.com
Volume
13, 036,
February
23, 2006
The nominal
275MW
prototype FutureGen power plant will gas-
ify coal through a process that converts carbon to a synthesis gas
composed of hydrogen and carbon monoxide . The hydrogen will be
used as a clean fuel for electricity generation in turbines, fuel cells or
hybrid combinations of these technologies, Anglo American said
.
"Our participation is complementary to our existing projects
in China and through Monash Energy in Australia, and represents
a further step in our commitment to participating in the develop-
ment of clean coal technologies that ensure that coal remains an
important and sustainable energy source for the future," Anglo
Chief Executive Tony Trahar said
.
FutureGen is made up of eight major energy and mining com-
panies that intend to contribute up to $250 million to the project
over its lifetime. It will partner (he
US
Department of Energy to
design, construct and operate FutureGen
.
The captured carbon dioxide from the planned plant will be
separated from the hydrogen and permanently
stored under-
ground, where it will be monitored over time . "The project hopes
to prove the effectiveness, safety and permanence of
COz
capture
and storage by testing the technology under real working condi-
tions," Anglo American said .
Anglo American Coal is a major coal producer and operates
mines in South Africa, Australia and South America .
February
24 Federal Register
Rules
Air pollution; standards of
performance for new station-
ary sources: Stationary gas tur-
bines; performance standards,
06-01743 [FRL-8025-9]
Proposed Rules
Air pollution ; standards of
performance for new station-
ary sources : Stationary gas tur-
bines; performance standards,
06-01742 [FRL-8025-8]
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