Legislation We Can Support

It is clear that technology is key to reducing greenhouse gas emissions in the electric generation sector. And while H.R. 2998, formerly H.R. 2454 provides significant funding for carbon capture and storage technologies, the bill’s initial cap and timeline for action could act as a deterrent to bringing those technologies to the marketplace.

Forcing electricity providers to commit to a reduction of 17 percent below 2005 levels by as early as 2020 will force electricity providers to make almost immediate investment decisions on how to meet that compliance deadline. Such a short timeline for decision making could leave electricity generators no choice except to switch to higher-priced fuels to meet the accelerated deadline, instead of focusing on bringing carbon capture and storage technologies to the marketplace. This switch in compliance strategy could ultimately threaten long-term success of the program and have consumers paying higher costs for decades.

In its current form, H.R. 2998, formerly H.R. 2454 does not do enough to guarantee that consumers are protected against skyrocketing energy costs. The best way to accomplish this is with a limit on the price of emission allowances. Carefully setting such a limit on allowance prices can ensure economic protection for consumers while not slowing efforts to reduce greenhouse gas emissions.

We’re for a bill that ensures access to affordable, reliable energy, promotes greater energy independence, and brings new and affordable technologies to the marketplace to achieve reductions in greenhouse gas emissions.

That is the type of bill we can and will support. Read our comprehensive legislative principles here.