Skip to comments.PSEG: Customers need aid to fight Global Warming
Posted on 07/27/2007 5:29:32 PM PDT by Coleus
Working-class New Jerseyans could be big financial losers if the state isn't careful in its new war on global warming, says the leader of the state's largest electric company. Public Service Enterprise Group's Ralph Izzo supports the landmark law signed by Governor Corzine. Fighting climate change will be "the defining issue of our future," the chief executive said. But tackling global warming will mean higher electric bills, Izzo said. It will become more expensive to burn the coal and natural gas that produce heat-trapping greenhouse gases but also supply much of North Jersey's power.
"For some people, you're talking about disposable income," he said. "But other people are talking about choosing between the third meal on the table and paying their electric bill. ... It's important that we build a safety net." New Jersey's legislation requires the state to cut greenhouse emissions 80 percent by 2050, the most aggressive goal in the nation. That will force a shift toward solar power, wind and other sources that produce less pollution but also cost more, Izzo said.
Electric prices will rise at first, Corzine has acknowledged. But people are expected to pay less in the long run as they conserve energy. Izzo, whose company serves 2 million customers, is unsure just how much higher bills could go. Two years ago, a study for nine Northeastern states said cutting emissions over the next 13 years would increase average bills in New Jersey from $3.28 to $40 a year. But the cuts in that study were less aggressive than New Jersey's plan. Izzo is worried about people who can't afford to buy high-efficiency appliances or spend tens of thousands of dollars to install solar panels.
"As prices go up, you will need a source of money to be able to help those consumers who cannot afford to pay," Izzo said. PSEG's residential customers in North Jersey pay about $1,100 a year, the company says. PSEG has applied to the state to play a bigger role in the solar market, arguing that it could cut installation costs.
This fall, it will seek state approval to help customers buy fluorescent light bulbs and take other energy-saving steps -- in exchange for a rate increase. The Legislature, meanwhile, is expected to consider a bill regulating power plant emissions -- and how much to charge utilities per ton of pollution they emit. Environmental groups are pushing for higher charges, saying that will generate more money for customer rebates and conservation programs.
Jeff Tittel of the state Sierra Club envisions a buyback program that helps low-income residents replace energy-guzzling refrigerators or insulate their homes. "Energy prices are going to go up whether we attack global warming or not, because the energy monopolies are looking to make more money," he said. "We need to make them invest in ways of making power cheaper." PSEG hopes the federal government steps in with rules that spread the costs over the entire country, Izzo said.
"Until you have a nationwide system, you're not going to have the kind of incentives that you need for people to invest in advanced turbine designs or safer nuclear power or lower-cost wind and solar," he said. "It's great that New Jersey wants to do this, but until you have trillions of dollars in play, you're not going to get the kind of innovation that you need."
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
These people really mean to control everything and everybody, and I think what's going on in New Jersey is just one of an ever-increasing number of examples of the truth in what I am saying.
Flame on if you must, but there are too many people in high places who think that it's the government's job to regulate the climate.
And where would the money come from?:::::
Environmental groups are pushing for higher charges, saying that will generate more money for customer rebates and conservation programs.
"Energy prices are going to go up whether we attack global warming or not, because the energy monopolies are looking to make more money," he said. "We need to make them invest in ways of making power cheaper." PSEG hopes the federal government steps in with rules that spread the costs over the entire country, Izzo said.
Proof positive in their own words that watermelons are green on the outside and red on the inside.
This is the most extreme and fascistic implimentation of environmental stupidity to come along yet.
There is a fallacy in every line of the story. Of course, the utilities are gutless, being regulated eunuchs. The State decrees, and we, the citizens, must pay. The State plans to grant higher rates to the utilities, but the excess is grabbed by state mandates, including “rebates” for those who can’t afford the scheme. This is a great example of New England-style politics: make everything more expensive, and then demand programs to enable people to pay for the damge the state itself has created.
One of the proponents justifies the plan because “the monopolies expect to make money.” Well, duh: everyone hopes to make money. The biggest monopolist around is the State, dummy!
This plan is proposing a fascistic dictatorship, with a priesthood of the enlightened ones telling everyone else how to live. It is, indeed, a form of gradual enslavement. The people of New jersey should rebel against this sort of tyranny by every legitimate means.
Take a look at the exas energy market. After it was successfully deregulated it had surplus power to sell CA and is now the second largest wind installation. Deregulated capitalism is better than these proposals.