The US EPA first issued its Cross-State Air Pollution Rule in July and electricity generation companies that use coal to fuel their plants have been fighting it ever since. Known as the ‘downwind’ rule, the EPA is seeking to control pollutants such as sulfur dioxide (acid rain) and oxides of nitrogen from 27 states, of which 26 are eastern and the 27th is Texas.
A federal court panel in Washington, D.C., has granted the companies a delay, saying that they have met the standard for a full court review. Power companies like Southern Co. (NYSE: SO) are among those which sought the stay, while companies with little coal-fired generation, like Exelon Corp. (NYSE: EXC) support the EPA rule change.
A hearing could be scheduled as soon as April before the full Court of Appeals. Shares in coal producers such as Peabody Energy Corp. (NYSE: BTU) and Alpha Natural Resources Inc. (NYSE: ANR) are up more than 8% and 7%, respectively, on news of the court’s decision.
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