US-based Consol Energy said that tighter regulations on water pollution and carbon emissions will increase energy prices for consumers in the US.

Metallurgical and thermal coal producer Consol CEO and president Brett Harvey said that increased regulations on coal-fired plants could hamper future investment, according to Reuters.

“If you do a lot of CO2 legislation, you’re going to end up stopping capital from coming into development of coal supplies, and that will drive the price of coal up to the utilities and in the short term, I think well-capped (mining) companies make a lot of money,” Harvey said.

“But in the long term I think the cost of energy is going to rise pretty fast in the US,” he told Reuters.