Governors Urged To Resist Mounting Industry Pressure As Final Agreement Nears
CONCORD
- A new economic analysis commissioned by Governor Lynch and eight
other Northeastern governors in both political parties who are
finalizing plans to cut power plant global warming pollution predicts
substantial consumer savings from the climate policy coupled with
increased investment in energy efficiency efforts.
Even
at current efficiency investment levels, the state climate accord would
save the typical residential customer about $50 per year, according to
the new study by the interstate working group and the EDR Group on
behalf of the nine governors. Moreover, the study shows that increased
investment to tap additional energy savings opportunities would more
than double the household cost savings to $109 per year.
“What
we’re talking about is killing two birds with one stone; cutting
emissions and cutting costs at the same time,” said Erika Staaf of the
New Hampshire Public Interest Research Group. “This is a huge, untapped
opportunity that elected officials would be crazy to pass up.”
The
new data comes as the governors are moving to conclude a final
agreement on the climate pact, which is expected to cut emissions of
heat-trapping carbon dioxide emissions 10 percent by 2020 by combining
new pollution limits with an emissions trading market that minimizes
costs and rewards companies that outperform the standards.
Participating
states include Delaware, Maine, Massachusetts, Connecticut, New
Hampshire, New Jersey, New York, Rhode Island and Vermont. The
standards are expected to become a model for other states to follow.
In
addition to the support of a wide-ranging coalition of environmental
groups, the plan has received support from numerous other groups and
corporations, including Bank of America, Staples, Keyspan, National
Grid, Pfizer, Entergy and Calpine, among others.
“This
is a sensible, affordable standard that will put the Northeast states
at a technological and competitive advantage as the rest of the nation
begins to tackle the problem,” said Doug Bogen, New Hampshire Program
Director for Clean Water Action. “If this new analysis shows anything,
it shows that we should be seeking greater reductions in global warming
emissions from the electric industry,”
The
governors remain under intense pressure from industry lobbyists and
some power generators. Opponents of the measure, the owners of
coal-fired power plants and their allies, have raised exaggerated
concerns about the effect on energy costs. Ironically, these arguments
come as energy companies post record profits.
“The
electric power companies who opposed this pact are hiding behind a
false argument. What the Northeast truly cannot afford is to let a few
polluting companies stand in the way of an initiative that will protect
both our environment and consumer’s pocketbooks,” said Staaf. “We hope
that Governor Lynch and the other eight governors will continue to
stand firm in their support for this important plan and move to quickly
announce a final agreement.”
