NewEnergyNews: Utilities Are Not Planning To Cut Emissions

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  • MONDAY’S STUDY AT NewEnergyNews, August 8:
  • Big Gains From Dems’ New Climate Bill

    Wednesday, July 27, 2022

    Utilities Are Not Planning To Cut Emissions

    Utility executives reveal ‘yawning gap’ in climate action

    Peter Behr, July 18, 2022 (E&E News)

    “…[Nearly] 9 in 10 utility leaders said reducing greenhouse gas emissions from power plants was a high or moderate priority, while only 38 percent of their companies were executing a strategy to do anything about it…The ‘yawning gap’ between climate concerns and actions ‘indicates leaders know they need to do ‘something,’ but either don’t know what to do or can’t implement a strategy due to lack of capital or regulatory support,’ the ICF survey report said…

    Few of the utilities have marshaled “the information, analysis, support, and resources” to face the challenges, ICF said…In addition to the 38 percent of utilities with active plans to tackle decarbonization, 32 percent of executives said their organizations were currently planning a strategy, and 29 percent said they expected to produce a strategy in the next five years…[Potential barriers to the needed planning include a lack of capital, concerns that regulators would not permit rate increases that would cover the investments, and] access to necessary technologies…

    The Edison Electric Institute currently lists nearly two-thirds of its 61 U.S. investor-owned members — many owning multiple utilities — with goals to eliminate carbon emissions or achieve 100 percent renewable energy…Carbon emissions from the U.S. electric power sector last year were 35 percent lower than in 2005…Whether U.S. utilities can match that pace in the next decade is filled with uncertainties…” click here for more

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