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Group says planned port coal facility is bad idea

3 years ago November 14, 2012 Nov 14, 2012 Wednesday, November 14 2012 Wednesday, November 14, 2012 10:19:44 AM CST in News
Source: Associated Press

BATON ROUGE- A New Orleans-based consumer group has asked the State Bond Commission to postpone granting permission for a tax-exempt loan to help expand an Ascension Parish coal port facility.

The Bond Commission is scheduled to vote Thursday on $130 million in tax-exempt bonds that would help Impala Warehousing LLC, based in Houston, pay for improvements to ship coal, primarily to international markets, from a facility near Burnside.

The Alliance for Affordable Energy says the project likely would increase in the cost of electricity for customers of utility cooperatives. The Alliance cites a report by The Institute for Energy Economics & Financial Analysis that says market conditions have changed and that the global coal market can no longer support significant increases in U.S. coal export capacity.

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