Wednesday, June 17, 2009

Like High-Priced Electricity? Go for Cap-and-Tax

The first noticed reverberation of cap-and-tax.

Citing coming global warming legislation, Duke Energy, the third-largest U.S. utility, has asked North Carolina regulators for permission to raise electricity prices 12.6 percent. The requested price hike would cost North Carolina ratepayers $496 million.

Quoting the Duke supporting documentation:

“In addition to the significant costs associated with existing state and federal environmental and other regulatory requirements… we are facing expected greenhouse gas reduction requirements in the near future.”

“By 2030, the electric utility industry will need to make a total infrastructure investment of $1.5 to $2.0 trillion.”

Duke happens to be a big-time promoter of Cap-and-Tax, by the way.

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