Posted: Nov 14, 2012 11:40 AM by AP
Updated: Nov 14, 2012 11:41 AM
BATON ROUGE, La. (AP) - 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.