Update: Power Industry Executives Call for More Realism, Less Creativity in U.S. Energy Policy, an Industrial Info News Alert

Wednesday, May 13, 2009 11:54 AM

(Source: MARKETWIRE) tracking

Researched by Industrial Info Resources (Sugar Land, Texas) -- In remarks delivered Tuesday at the 11th annual Electric Power Conference & Exhibition in Rosemont, Illinois, power industry executives called for more realism and integrity in the Obama administration's energy and environmental initiatives.

Wind or solar projects would be the next generating stations to come online for four of the five power companies represented on the panel: Dynegy (NYSE:DYN) (Houston, Texas), Exelon Corporation (NYSE:EXC) (Chicago, Illinois), Edison International (EIX), and Sempra Energy (NYSE:SRE) (San Diego, California). But several panelists also contended that the American public was not being adequately informed about the sizable costs, difficult regulatory hurdles, and extended timelines to build transmission lines connecting these often-remote renewables projects to the grid.

In an effort to inject some realism into the policy discussion of interstate transmission issues, American Electric Power (NYSE:AEP) (Columbus, Ohio) has retained Susan Eisenhower, daughter of President Dwight Eisenhower, and George Pataki, former governor of New York, for lobbying and public relations activities, said Michael Morris, AEP's Chairman, President and CEO.

Morris and other panelists criticized the administration's original approach of auctioning off 100% of emissions allowances and using some of those proceeds to fund health-care reform. The panelists were unanimous in their view that funds raised by any carbon allowance auction should be reinvested in the electricity business, funding research and development into carbon capture and sequestration and other electric power infrastructure investments.

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