Bringing to an end a much-prolonged lawsuit filed by environmentalists, the Environmental Protection Agency (EPA) Friday agreed to lay down the standards to restrict mercury emissions from oil- and coal-fired power plants by late 2011.

The new agreement between EPA and environmental and public health groups has fixed the deadline for the EPA to set pollution standards by November 16, 2011. The time-limit was finalized in a consent decree issued by the Federal District Court in Washington, late Thursday.

Though the agreement might resulted in an increase in prices of electricity, it would essentially cut down the flow of mercury and other toxic substances, which not only cause hazardous air pollution but also spell harm for brain development in fetuses as well children.

The restricting standards of perilous emissions will ensure clean air rules for American power plants, which annually emit a colossal 50 tons of mercury, along with traces of some other toxic substances, including arsenic, beryllium, dioxins, chromium, and cadmium.

Meanwhile, hailing the most-recent decision pertaining to setting of pollution standards, environmentalists opine that, in terms of environmental protection, the move will augment EPA’s ongoing efforts towards restricting greenhouse gas emissions from key emitters like vehicles, factories, and power plants.

Commenting on the decision, Jim Pew, an attorney at Earthjustice, one of the groups that brought the suit, said: “This is the Holy Grail for pollution control.”