Nation's Largest Utility Quits US Chamber of Commerce Over Climate Change Denial - Pushes Price on Carbon
The flight of utilities from the US Chamber of Commerce due to its climate change denial stance continues: The latest to quit (well, not renew its membership) is Chicago-based Exelon, the nation's largest gas and electric utility. In its press release, leaving the Chamber was really a footnote to pushing for Congress to pass climate legislation and set a price on carbon:Carbon Free Lunch is Over
Speaking at the American Council for an Energy Efficient Economy's national conference, Exelon Chairman and CEO John Rowe said,
The carbon-based free lunch is over. But while we can't fix our climate problems for free, the price signal sent through a cap-and-trade system will drive low-carbon investment in the most inexpensive and efficient way possible. Putting a price on carbon is essential because it will force us to do the cheapest things, like energy efficiency, first.
EPA Will Act if Congress Doesn't...
Right on Rowe, but it's interesting why he's pushing for action now: Rowe sees the writing on the wall,
If Congress does not act, the EPA will, and the result will be more arbitrary, more expensive, and more uncertain for investors and the industry than a reasonable, market-based legislative solution.
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