(a)
In general— Before promulgating as final any covered energy-related rule, the Administrator shall carry out the activities described in subsections (c) through (d).
(b)
Report to Congress— For each covered energy-related rule, the Administrator shall submit to Congress a report (and transmit a copy to the Secretary) containing—
(2)
a concise general statement relating to the rule;
(3)
an estimate of the total costs of the rule, including the direct costs and indirect costs of the rule;
(4)
an estimate of—
(A)
the total benefits of the rule; and
(B)
when those benefits are expected to be realized;
(5)
a description of the modeling, the assumptions, and the limitations due to uncertainty, speculation, or lack of information associated with the estimates under paragraph (4);
(6)
an estimate of the increases in energy prices, including potential increases in gasoline or electricity prices for consumers, that may result from implementation or enforcement of the rule; and
(7)
a detailed description of the employment effects, including potential job losses and shifts in employment, that may result from implementation or enforcement of the rule.
(c)
Initial determination on increases and impacts— The Secretary, in consultation with the Federal Energy Regulatory Commission and the Administrator of the Energy Information Administration, shall prepare an independent analysis to determine whether the covered energy-related rule will cause—
(1)
any increase in energy prices for consumers, including low-income households, small businesses, and manufacturers;
(2)
any impact on fuel diversity of the electricity generation portfolio of the United States or on national, regional, or local electric reliability;
(3)
any adverse effect on energy supply, distribution, or use due to the economic or technical infeasibility of implementing the rule; or
(4)
any other adverse effect on energy supply, distribution, or use (including a shortfall in supply and increased use of foreign supplies).
(d)
Subsequent determination on adverse effects to the economy— If the Secretary determines, under subsection (c), that the rule will result in an increase, impact, or effect described in that subsection, then the Secretary, in consultation with the Administrator, the Secretary of Commerce, the Secretary of Labor, and the Administrator of the Small Business Administration, shall—
(1)
determine whether the rule will result in significant adverse effects to the economy, taking into consideration—
(A)
the costs and benefits of the rule and limitations in calculating those costs and benefits due to uncertainty, speculation, or lack of information; and
(B)
the positive and negative impacts of the rule on economic indicators, including those related to gross domestic product, unemployment, wages, consumer prices, and business and manufacturing activity; and
(2)
publish the results of that determination in the Federal Register.