A bill introduced by Senators Diane Feinstein, D-Calif., and Thomas Carper, D-Del., that would establish a national program to reduce greenhouse gas emissions from the electricity sector has received support from six major electric companies.
The Electric Utility Cap-and-Trade Act (S.317) would create a national system that would first cap, and then ratchet down electricity sector emissions by 25% below projected levels by 2020. PG&E Corp., Florida Power & Light, Entergy Corp., Exelon Corp., Calpine Corp. and Public Service Enterprise Group all came out in support of the bill. According to the senators, the electricity sector accounts for 33% of all U.S. emissions.
‘As the single largest source of emissions in the U.S., the utility sector must play a key role in meeting our national emissions reductions goals,’ says Peter A. Darbee, PG&E's chairman, president and chief executive officer. ‘This bill will significantly reduce emissions from the utility sector, and it will do so by leveraging the innovation and efficiency of the market.’