By Alex Formuzis
Federal regulators' rejection Monday of the White House's scheme to prop up the coal and nuclear power industries is a big win for electricity customers and renewable energy, said Environmental Working Group (EWG) President Ken Cook. The Federal Energy Regulatory Commission (FERC) denied a petition by Energy Sec. Rick Perry to require the use of electricity from coal and nuclear plants, even when cheaper sources are available—a move analysts said would drive up Americans' utility bills by billions of dollars a year.
Now, renewable energy trade associations are raising the alarm about an eleventh-hour provision called the Base Erosion Anti-Abuse Tax (BEAT) program that "would have a devastating, if unintended, impact on wind and solar energy investment and deployment," according to a letter addressed to the Senate.