Transcript Rising Electricity Costs: A Challenge For Consumers, Regulators

A Glimpse at the New
Administration’s Energy and
Environmental Policies
January 26, 2009
New Administration
Energy / Environmental Initiatives
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Stimulus Package
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Comprehensive energy legislation
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Climate legislation
A Snapshot of Obama’s
New Administration
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White House
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Cabinet
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Assistant for Energy and Climate Change - Carol Browner
Council on Environmental Quality - Nancy Sutley
Sec. of Energy – Dr. Steven Chu
Administrator of Environmental Protection Agency – Lisa Jackson
Sec. of Interior – Ken Salazar
Sec. of Agriculture – Tom Vilsack
Sec. of Homeland Security – Janet Napolitano
Administrator of Small Business Administration – Karen Mills
Agencies
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Federal Energy Regulatory Commission – Acting Chair John Wellinghoff
Nuclear Regulatory Commission - ?
Securities and Exchange Commission – Mary Schapiro
A Snapshot of Obama’s Stimulus Plan
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Immediate action to create good jobs in America
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Partner with America’s automakers to help save jobs and ensure that the
next generation of clean vehicles is built in the USA
A rapid, aggressive response to the financial crisis – using all the
tools we have
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Fight for fair trade
Invest in a clean energy economy and create 5 million new green jobs
Create new job training programs for clean technologies
Boost the renewable energy sector and create new jobs
Invest in the sciences
Create a national network of public-private business incubators
A Snapshot of Obama’s Stimulus Plan
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Immediate relief for struggling families
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Funds to counteract high heating costs this winter – supplement
LIHEAP
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Direct, immediate assistance for homeowners, not a
bailout for irresponsible mortgage lenders
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Electricity sector
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Energy efficiency
Smart Grid
Transmission
Electric Drive Transportation
House Committee Stimulus
for Efficiency ($31 B)
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GSA Federal Buildings: $6.7 B – renovations, EE, conservation
Local Government Energy Efficiency Block Grants: $6.9 B
Energy Efficiency Housing Retrofits: $2.5 B
Energy Efficiency and Renewable Energy Research: $2 B
Energy Efficiency Grants and Loans for Institutions: $1.5 B
Low Income Home Weatherization: $6.2 B
Industrial Energy Efficiency: $500 M
Smart Appliance Rebates: $300 M - Energy Star
Extension of Tax Credits for Improvements to EE on existing
homes: $4.28 B
Others
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EE for Schools, Veterans Medical Facilities, Homeowners, Job training
House Committee Stimulus for Electric
Drive Transportation
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Electric Transportation Grant Program: $200 M
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Advanced Battery Loans and Grants: $2 B
House Committee Economic Stimulus
for Electric Grid ($11 B)
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Reliable, Efficient Electricity Grid: ($11 B)
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Research and development
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Smart Grid ($4.5B)
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Pilot projects
Federal matching funds for the Smart Grid Investment Program to
modernize the electricity grid making it more efficient, secure, and
reliable
Transmission
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New power lines to transmit clean, renewable energy from sources
throughout the nation
House Committee Economic Stimulus
for Climate and Renewables
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Cleaning Fossil Energy: $2.4 B CCS demos
Department of Defense Research: $350 M renewable energy to
power weapons systems and military bases
Renewable Energy Loan Guarantees: $8 B Gen. & Trans. Projects
3 Year Production Tax Credit Extension (PTC): $13.14 B
Removal of limitation on Investment Tax Credit: $870 M
Additional Qualifying Energy Conservation Bonds: $800 M
Additional Clean Renewable Energy Bonds (CREBs): $580 M
Temporary permission to claim ITC instead of PTC: $220 M
Tax Credits for Installation of Alternative Fuel Pumps $ 50 M
Increased R&D credit: $20 M
President Obama’s
Energy / Environmental Views
Climate Change
80% reduction by 2050
Energy Efficiency
Overhaul of
Federal Efficiency Codes
Renewable Portfolio
Standards
25% by 2025
Smart Grid
Increased Government Support
View From Top – Pres. Obama’s
Climate Change Positions
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Goal –
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Mechanism –
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Cap-and-trade program
Coverage –
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Reduce carbon emission 80% below 1990 level by 2050
Economy-wide approach
Implementation
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Auction all allowances
Use interim targets to stay on course
Proceeds support
 Develop and deploy clean energy
 Energy efficiency and transition assistance
 Job training - develop a clean energy workforce and energyfocus Green Jobs Corp (5 million new jobs projected)
Pres. Obama – 25% by 2025
RPS Nationwide
States with a 25% RPS
AABE Action Plan
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Create CEO / President Advisory Council
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Summits
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Key new administration leaders
Other energy organizations
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Develop new coalitions
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Sustained outreach and input to new administration