I have worked for the past five years of analyzing various proposals to curb GHG. I have to say, I no idea if there is climate change or not. I am pretty certain CO2 levels have been rising over the years in the world, but that is not the issue here.
The action by the Administration was predictable and inevitable. Having failed to get Congress to pass a “cap and trade” scheme in 2010, the Administration waited until after the election to move their program forward and forward it will come.
The EPA has been asked to issue proposed regulations in the next 12 months. I suspect they have working on them for some time so this will not be a problem.
Power plants that currently use coal (about 38% of electricity is generated from coal) will have figure out a way to comply either by fuel switching, technological change or just shutting down. However that plays out, electricity cost will increase and in some areas increase considerably. Although the details of what is to come is not known, cost increase is certain, also predictable, and inevitable.