One utility response the proposed GHG regulations

I believe this says thanks for allowing us to increase rates.  The NextEra Energy CEO’s response to the EPA’s proposed GHG rules for coal plants.  I wonder if his response would have been different if the company was heavily into coal fired plants.  Would he have had a different response if the regulations required them to make good on the promise to reduce rates by 8%?

“As a clean energy leader, NextEra Energy appreciates the shared responsibility we have to reduce greenhouse gas emissions and protect the environment, while ensuring affordable, reliable energy for our customers. At NextEra Energy, we have positioned our business to manage the opportunities and risks presented by climate change issues, while simultaneously lowering emissions. And for customers of Florida Power & Light Company, we have been investing billions of dollars to modernize our system, converting older, oil-fired power plants into high-efficiency energy centers that run on clean, U.S.-produced natural gas and increasing our use of emissions-free nuclear and solar energy.

“While we will continue to review the proposed guidelines in detail, we appreciate that EPA’s plan provides for compliance flexibility in terms of enabling states to choose how they will meet their goals. We also appreciate that EPA’s plan recognizes the efforts that states and companies have taken already toward balancing the needs for cleaner power, lower emissions and affordable energy.”

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5 responses to “One utility response the proposed GHG regulations

  1. I think that’s “Thanks for getting us a bigger piece of the pie”.

  2. I find this response to be delusional. Rate setters are political and will be very reluctant to grant rate relief. If they do, then this process will give more impetus for utilities to go elsewhere for their power.

    Generally this EPA move is the death knell for coal-fired electricity generation in the US and stocks in utilities where coal is a material input are in big trouble.

    • Most U.S. electric utilities are regulated monopolies, with a legislated guaranteed rate of return. Ipso facto, you are wrong concerning stocks in utilities. They will be fine.

      The rate payers won’t be fine. They will have to pay for all this happy horse$hit.

  3. NextEra energy reportedly got enough from the wind production tax credit (over 4 years) to build, basically at no cost, a NG plant in the environmentally sensitive everglades. Yes, they are very, very concerned about the environment—of their bottom line.

  4. they love the chance to sell credits to other utilities at prices that the regulators can’t cap … just like Tesla does with California … rent seeking frauds …

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