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A Climate Plan Businesses Can Like

Author: Jody Freeman & Kate Konschnik, New York Times (USA), Published on: 3 August 2015

With the release of President Obama’s Clean Power Plan, a flood of legal challenges will begin. Already, opponents have denounced the new rule limiting carbon pollution as unconstitutional. Behind the rattling sabers, however…[m]any big players in the electric power industry will gain more with the rule in place than if the courts strike it down…The plan sends a clear market signal that low-carbon energy will be profitable. Many of the country’s most powerful investor-owned utilities, including MidAmerican, Southern Company and Exelon, have made big investments in low carbon sources like wind, solar or nuclear power…In the last several years, utilities also have begun shifting away from coal toward cheaper natural gas. What they want now is a clear and predictable federal plan that will help them profit from these investments, and reward them for making more. The president’s plan does just that…[J]ust as it will be important to have supportive states on the government side to counter states that challenge the plan, it will also be crucial to have some industry players there. For conservative judges who may be skeptical of regulation, industry voices can make a big difference… [also refers to Calpine, PG&E]

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Related companies: Calpine Exelon MidAmerican Energy (part of Berkshire Hathaway) PG&E Southern Company