Thursday, April 23, 2009
Electric companies are warning lawmakers that prices will go up if Congress passes a global warming bill that doesn't give utilities some allowances to emit greenhouse gases.
A House panel on Thursday heard from representatives of rural cooperatives, utility commissions, and electric utilities about a bill to curb release of the gases linked to global warming.
The providers say the best way to keep the electricity sector from passing the cost of reducing greenhouse gases on to consumers is to give away — not sell — allowances to emit the pollution.
That approach differs from one proposed by President Barack Obama. The president's budget assumes that allowances will be sold and the revenues returned to consumers saddled with higher energy bills.