Utilities call for early allocation of emissions
US utilities have called on Congress to allocate emissions allowances in the early years of a national cap-and-trade scheme during testimony before the House Energy and Commerce Committee yesterday.
Hearings have been conducted on Capitol Hill with industry players this week regarding the proposed cap-and-trade legislation introduced at the end of March by Representatives Henry Waxman and Edward Markey.
Speaking yesterday on behalf of the Edison Electric Institute, Jeff Sterba, chairman and CEO of PNM Resources, said the resources spent on reducing greenhouse gas emissions could cause significant increases in the cost of electricity, which "could undermine public support for a carbon
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