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Power companies urge Biden to implement policies to cut emissions 80% by 2030

Stock MarketsApr 17, 2021 12:40PM ET
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© Reuters. FILE PHOTO: U.S. President Biden delivers remarks on Russia at the White House in Washington

WASHINGTON (Reuters) - A group of U.S. electricity companies wrote to President Joe Biden this week saying it will work with his administration and Congress to design a broad set of policies to reach a near-term goal of slashing the sector's carbon emissions by 2030.

Washington should implement policies, including a clean energy standard, or CES, to ensure the electricity industry cuts carbon emissions 80% below 2005 levels by 2030, the group of 13 power interests, including generators Exelon Corp (NASDAQ:EXC), PSEG and Talen Energy Corp, said in a letter to Biden.

The letter, a copy of which was seen by Reuters, did not mention Biden's goal to fully decarbonize the power sector by 2035 as part of his strategy to fight climate change. But it said the 2030 timeline is consistent with Biden's wider goal of decarbonizing the entire economy by 2050.

"A federal policy framework can be designed to support the power sector’s deployment of strategies that are technically feasible, ensure reliability, and maintain affordability for customers," said the letter, sent to Biden on Friday.

The White House did not immediately respond to a request for comment.

The 2030 goal was consistent with Evergreen Action, an advocacy group that proposed a CES in February. Sam Ricketts, a co-founder, said utilities should worry less about the 2035 goal, and focus on early wins as the last portion of emissions cuts is the hardest to achieve.

Several lawmakers, including Democrats U.S. Representative Frank Pallone and Senator Tina Smith, have introduced legislation that includes a CES.

The standard would set gradually rising targets for the power industry to cut emissions until they hit net-zero, with a range of methods from adopting wind and solar power, using existing and advanced nuclear energy, or sucking up carbon from coal and natural gas plants before they reach the atmosphere.

The White House this month included a CES in its $2.3 trillion infrastructure package, without detailing how it would work.

Some plans for a CES include flexibilities such as allowing utilities to earn bankable credits for over-achieving in early years that could be used for compliance in later years when progress on cutting emissions becomes more difficult.

Power companies urge Biden to implement policies to cut emissions 80% by 2030
 

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Comments (7)
Ad Cline
Ad Cline Apr 18, 2021 2:28PM ET
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those cultures and civilizations that fail to adapt to climate change, collapse or die along with their populations.
Rick Baier
Rick Baier Apr 18, 2021 8:16AM ET
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My fellow Americans get ready to be reemed on your future electric bill.
Tyler Phillils
Tyler Phillils Apr 17, 2021 9:22PM ET
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Power companies are throwing thier customers to the wolves.
Shawn Rayborn
Shawn Rayborn Apr 17, 2021 8:25PM ET
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𝘁𝗁𝗂𝗌 𝗅𝗂𝗇𝗄 𝖾𝗑𝗉𝗂𝗋𝖾𝗌 𝗂𝗇 24 𝗁𝗈𝗎𝗋𝗌. 𝚒'𝗅𝗅 𝗌𝖺𝗒 𝗂𝗍 𝖻𝖾𝖿𝗈𝗋𝖾 𝖺𝗇𝖽 𝚒'𝗅𝗅 𝗌𝖺𝗒 𝗂𝗍 𝖺𝗀𝖺𝗂𝗇. 𝚖𝗈𝗇𝖾𝗍𝖺𝗋𝗒 𝗌𝗒𝗌𝗍𝖾𝗆𝗌 𝗅𝗂𝗄𝖾 𝗍𝗁𝗂𝗌 𝖺𝗉𝗉𝖾𝖺𝗋 𝗈𝗇𝖼𝖾 𝖺 𝖽𝖾𝖼𝖺𝖽𝖾. 𝚊𝗇𝖽 𝗒𝗈𝗎 𝗁𝖺𝗏𝖾 𝖻𝖾𝖾𝗇 𝗅𝗎𝖼𝗄𝗒 𝖾𝗇𝗈𝗎𝗀𝗁 𝗍𝗈 𝗀𝖾𝗍 𝗒𝗈𝗎𝗋 𝗈𝗐𝗇 𝗉𝗋𝗂𝗏𝖺𝗍𝖾 𝖽𝗈𝗐𝗇𝗅𝗈𝖺𝖽 𝗅𝗂𝗇𝗄 (𝗈𝗇𝗅𝗒 50 𝗉𝖾𝗈𝗉𝗅𝖾 𝖺𝖼𝖼𝖾𝗉𝗍𝖾𝖽 𝗐𝗈𝗋𝗅𝖽𝗐𝗂𝖽𝖾 𝖾𝖺𝖼𝗁 𝗆𝗈𝗇𝗍𝗁). 𝚒𝖿 𝗒𝗈𝗎 𝗐𝖺𝗇𝗍 𝗍𝗈 𝖻𝖾 𝗍𝗁𝖾 𝗇𝖾𝗑𝗍 𝗆𝗂𝗅𝗅𝗂𝗈𝗇𝖺𝗂𝗋𝖾 𝗌𝗎𝖼𝖼𝖾𝗌𝗌 𝗌𝗍𝗈𝗋𝗒 𝗉𝗋𝗈𝖽𝗎𝖼𝖾𝖽 𝖻𝗒 𝗍𝗁𝗂𝗌 𝗆𝗈𝗇𝖾𝗍𝖺𝗋𝗒 𝗌𝗒𝗌𝗍𝖾𝗆, 𝖽𝗈𝗐𝗇𝗅𝗈𝖺𝖽 𝗍𝗁𝗂𝗌 𝗌𝗈𝖿𝗍𝗐𝖺𝗋𝖾 𝗂𝗇 𝗍𝗁𝖾 𝗇𝖾𝗑𝗍 24 𝗁𝗈𝗎𝗋𝗌. 𝚏𝗈𝗋𝗀𝖾𝗍 𝖺𝖻𝗈𝗎𝗍 𝗂𝗍, 𝖽𝗈 𝗂𝗍 𝗇𝗈𝗐 𝖻𝖾𝖼𝖺𝗎𝗌𝖾 𝗍𝗋𝗎𝗌𝗍 𝗆𝖾, 𝗒𝗈𝗎 𝚍𝚘 𝚗𝚘𝘁 𝗐𝖺𝗇𝗍 𝗍𝗈 𝖾𝗇𝖽 𝗎𝗉 𝗅𝗈𝗈𝗄𝗂𝗇𝗀 𝗈𝗎𝗍 𝖿𝗋𝗈𝗆 𝗍𝗁𝖾 𝗈𝗎𝗍𝗌𝗂𝖽𝖾. 𝚍𝖾𝗍𝖺𝗂𝗅𝗌 𝗁𝖾𝗋𝖾: 𝖺𝖽𝖾𝗂𝖽𝗄𝖺.𝗍𝗄
Jeff Wagstaff
Jeff Wagstaff Apr 17, 2021 4:11PM ET
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I call BS on this story.
Catholic Man
CatholicMan Apr 17, 2021 2:14PM ET
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Fighting an imaginary enemy.
Adrian White
Adrian White Apr 17, 2021 2:14PM ET
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You mean like "the Deep State" you believe in?
Eugen Simandel
Eugen Simandel Apr 17, 2021 12:43PM ET
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Nuclear energy is clean and effective solution. It is time to re-establish this enegy segment.
Catholic Man
CatholicMan Apr 17, 2021 12:43PM ET
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Congrats on being the only other non-spam poster on this article.
John Bows
John Bows Apr 17, 2021 12:43PM ET
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Why? We already have enough energy generation resources to provide power throughout a decarbonization process without having to turn to the cost-ineffective system of nuclear power which carries with it significant risks in the event of a control system failure.
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Ad Cline Apr 17, 2021 12:43PM ET
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nuclear energy from an environmental financial viewpoint is to risky. private insurance companies will not underwrite a liability policy of any kind on a nuclear power station. Your tax dollars are use to pay for any nuclear disaster and the financial protection of the utility that owns and operates the nuclear facility.
William Gatling
William Gatling Apr 17, 2021 12:43PM ET
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Thorium power is already in use.
 
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