Constellation Energy encouraged by renewable energy legislation

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Constellation Energy CEO Mayo Shattuck released an official statement commenting on a proposed climate change legislation that is making its way through Congress. Drafted by Congressmen Henry A. Waxman and Edward J. Markey, the American Clean Energy and Security Act is currently going through the House Energy and Commerce Committee.

“Climate change is one of the most important issues of our time,” Mayo Shattuck wrote, “and the House Energy and Commerce Committee has crafted a thoughtful blueprint outlining the essential steps we must take to achieve America’s long-term greenhouse gas (GHG) reduction goals.” Mayo Shattuck wrote. “The revised American Clean Energy and Security Act of 2009 … provides a strong foundation to rapidly reach national consensus on an ambitious, long-term policy.”

Mayo Shattuck referred to the investment capital required to expand America’s renewable energy goals, as stated by the proposed law. “Reducing GHG level will require significant new investments that change the way we currently produce and consume energy … What we need is a strong and durable national policy that allows us to more rapidly deploy all of these technologies at the massive scale necessary to make a real difference.”

Mayo Shattuck praised Congressmen Waxman and Markey for their work on the bill and how the leaders reached out to the utilities companies. “Committee Chairman Henry A. Waxman and Energy and Environment Subcommittee Chairman Edward Markey deserve considerable credit for their openness in undertaking extensive consultations with a wide range of stakeholders, including the utility and power generation sector, as well as environmental organizations and other stakeholder groups.”

The American Clean Energy and Security Act is a very ambitious proposal which includes the following measures:

1. Require power companies to use renewable energy for 6% of their power generation in 2012 and 25% by 2025
2. Promote carbon capture and sequestration, making clean coal a reality.
3. Promote the research and production of clean fuel automobiles
4. Modernize the so-called “Smart Grid” system of electrical transmission
5. Require higher energy efficiency in houses, offices, appliances, and transportation system.
6. Reduce global warming by requiring reductions in emissions and establishing a tradable permit system. Reductions begin at 3% below 2005 levels in 2012, 20% below that level in 2020 and 83% below 2005 levels in 2050.

Mayo Shattuck thinks all of these measures are a good idea. “We’re encouraged by the growing momentum in Washington to adopt strong, balanced and effective climate change legislation this year. It is vital to our nation and our energy future.”

Constellation Energy
Based in Baltimore, Constellation Energy is a supplier of energy products and services to wholesale and retail electric and natural gas customers throughout the United States. Constellation Energy generates approximately 9,000 megawatts of generating capacity. Constellation Energy has made major environmental investments and improvements at its generation facilities, including a $190 million on emission-reducing equipment and upgrades at its facilities.

Article Source: Constellation Energy Applauds Proposed Climate Change Legislation

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