Wednesday, July 15, 2009

MidAmerican Energy CEO Visits Carroll

MidAmerican Energy Company President and CEO Bill Fehrman discussed the proposed Energy bill Tuesday with a group of Carroll County business leaders and officials. He stated the company's position on the cap and trade component of the 1,500 page bill that is currently being considered in the United States Senate.
"The bottom line is that the trading allowances will not reduce emissions and will hurt rural customers, particularly in the midwest," according to Carroll Area Development Corporation President Gary Riedmann, who was in attendance with about 60 others. CADC invited Carroll Rotary, elected officials and other business leaders to the lunch and presentation.
Included in the information presented:

•MidAmerican supports the cap, not the trade
•The bill will impose huge and unnecessary costs on customers
•The general economy will be severely damaged by the potential increase in electric rates
•The bill unfairly penalizes companies that have proactively built renewable generation and reduced greenhouse gas (GHG) intensity
•MidAmerican believes an 83% reduction in GHG emissions by 2050 is achievable while avoiding the up-front costs of emission allowances
•MidAmerican’s alternative will actually result in a reduction in GHG emissions and avoid the double jeopardy imposed on customers of having to pay both for allowances and replacement power.
MidAmerican proposes:
•Allow states to cap emissions to reach the 83% reduction goal by 2050
–Firm targets without allowance trading
•Establish reasonable interim goals to allow time for new technology to be developed and new generation to be built
•Protect customers from paying twice and reduce volatility
•This alternative will reduce price shock and economic dislocation

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