Business Solutions Transport
Duke Energy COO says we can ‘decarbonize’ without painful electricity price hikes – what do you think?
Jim Turner, chief operating officer of Duke Energy Corp, explains the utility’s view:
“Undeniably, enhanced renewable energy and energy conservation are laudable objectives and should be part of a comprehensive solution to climate change. But our ultimate objective must be to transition to a lower carbon economy in a manner that inflicts the least economic pain on America’s consumers and businesses.
Electricity can be the low-cost and reliable engine that transports us into a prosperous and “decarbonized” future…”
“Technology and American ingenuity will allow for the development of lower carbon technologies that propel our economy forward. Cap and trade along the lines proposed by the Waxman-Markey bill can be the catalyst for that to happen.”
http://climateprogress.org/2009/05/26/duke-energy-climate-action-waxman-marke/
What are your thoughts on Turner’s comments?
Since much of the allowances are provided for free to utilities, it won’t hurt their bottom line or their consumers, so some utilities have come out in favor of the legislation. It doesn’t remove the incentive for the utilities to “decarbonize”. The allowance provides a strong incentive for them to move towards low carbon solutions and away from fossil fuels, with savings passed on to consumers (a key part of the legislation):
http://www.grist.org/article/2009-waxman-markey-gets-it-right-with-its-all/
While utilities are accepting of the bill (relative to the alternative of a full auction), the fossil fuel industries (coal in particular) aren’t too pleased. In the long-run, their industry is replaced by low carbon energy sources. Powerful coal lobbies will continue to fight the legislation.
Elddis Transport’s Nigel Cook – Cellular Solutions Case Study