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Indiana’s Clean Energy Bill an incentive to nuclear industry

… it includes dirty energy like ‘clean’ coal, nuclear and natural gas in its definition of renewable energy,”…….

The CAC said the bill would essentially shift the risk to the ratepayers for projects that Wall Street has traditionally refused to finance. Many of these projects pose a high risk for small returns.

Bill may hurt consumers, encourage nuclear power | City & State | Indiana Daily Student, 16 Feb 2011, The Indiana General Assembly has named it the Clean Energy Bill, but others consider it a utility monopoly bill. Regardless of the name, Senate Bill 251 passed the Indiana Senate Utilities and Technology Committee Feb. 10 and will soon make its way to the Senate for consideration.The bill was introduced to encourage the construction of coal-fired and nuclear power plants in Indiana. It would allow companies to get back money previously spent on new energy or nuclear energy production or generating facilities.
Although the bill passed 6-2 in committee, major opposition was present in the form of more than a dozen organizations that attended the meeting to protest the measure.
Citizens Action Coalition of Indiana, a consumer group with more than 40,000 members, has called for the immediate withdrawal of the bill.

According to the CAC, the legislation would eliminate protections for electricity consumers. This would provide monopoly electric utilities companies the means for unlimited profits.

“Ultimately, Senate Bill 251 will lead to prohibitively expensive and confiscatory electric rates in the state,” said Kerwin Olson, program director for the CAC. “It represents the proverbial blank check to Indiana’s monopoly electric utility
companies.”….. it includes dirty energy like ‘clean’ coal, nuclear and natural gas in its definition of renewable energy,”…….

The CAC said the bill would essentially shift the risk to the ratepayers for projects that Wall Street has traditionally refused to finance. Many of these projects pose a high risk for small returns.Bill may hurt consumers, encourage nuclear power | City & State | Indiana Daily Student

February 16, 2011 - Posted by Christina Macpherson | general