U.S. EPA Reckon American Power Act Could Cut Costs Initially

THE U.S. Environmental Protection Agency (EPA) has stated the proposed American Power Act promoted by Senators John Kerry and Joe Lieberman could initially cut consumer energy costs.

The economic analysis of the energy and climate change bill by the EPA, says it would be affordable for both consumers and industry.

While energy costs may drop over the next 10 years, eventually bills will rise.

The carbon price affected by the bill’s cap-and-trade scheme will also see a rise from $16-17 per tonne in 2013, the start of the proposed scheme, to $23-24 by 2020.

Simultaneously, the report by the American Council for an Energy-Efficient Economy (ACEEE) promotes the fortifying the energy efficiency measures in the bill as they will triple the number of green jobs created, multiply energy savings by four times while cutting utility power bills.

According to the ACEEE the industrial sector would provide particularly significant energy savings, estimated as more than a third of the increased savings.

Neal Elliott, ACEEE’s associate director of research said:

“Directing a portion of the emissions allocations to investments in industrial energy efficiency enables the modernization of US manufacturing, resulting in important energy and greenhouse gas emissions reductions while insuring its global competitiveness.”

U.S. President. Barack Obama. underlined again his desire for a discussion over the coming months of both the Kerry and Lieberman bill and Senator Richard Lugar’s Practical Energy and Climate Plan Act.

The oil disaster in the Gulf of Mexico has brought more support for the bill and energy efficiency in general.

Picture by Hey Paul

Tuesday 22nd June 2010

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