(Washington DC) – PG&E Corporation (NYSE:
PCG) Director of Communications, Shawn Cooper, issued
the following comments related to today’s announcement
by Senator Joseph Lieberman, I-D Connecticut, and Senator
John Warner, R-Virginia, that they will introduce a
comprehensive climate change bill sometime next month
based on a broad range of detailed principles.
“With overwhelming evidence that there is a link
between greenhouse gas emissions and the Earth's warming
climate, the time to act is now and we commend Senator
Lieberman and Warner for their action and innovative
approach to key elements of designing a mandatory, national
program to combat climate change.”
“We support their creative approach to allocating
emissions allowances to Local Distribution Companies
on behalf of their electricity customers and believe
that it should be given serious consideration as the
debate moves forward. Taking this approach will distribute
the allowance value to where it should go – in
this case, the electricity customer – who will
ultimately bear the costs associated with making the
transition to lower-emitting power generation technologies
through electric rates they pay each month.”
“We are also encouraged by the thoughtful approach
by both Senators, in how they are exploring cost containment
provisions designed to protect the overall economy –
we believe this is a step in the right direction that
will not only protect our environment, but also our
economy and energy consumers.”
“It also appears that new technology development
and new power generation will be encouraged under the
recommendations of Senators Lieberman and Warner. For
power generation, Senators Lieberman and Warner recognize
that these sources will also need access to emission
allowances. We look forward to working with them to
further develop these provisions to encourage the development
and deployment of the most efficient and lowest-emitting
technologies and to do so in a way that supports the
energy infrastructure of the future and recognizes changing
market dynamics.”