Washington, D.C. (February 10, 2021) — Edison Electric Institute (EEI) President Tom Kuhn and members of EEI’s executive team today virtually briefed Wall Street analysts, bankers, investors, and other industry stakeholders on the state of the U.S. electric power industry, focusing specifically on EEI’s member companies, America’s investor-owned electric companies.
“Time and time again, we are reminded of how valuable electricity is to our society and to our everyday lives,” said Kuhn. “This is true now more than ever, as so many Americans are using their homes as workplaces and as classrooms and are relying on technologies to stay connected with their family and friends.
“As we look to 2021 and to all that we hope to accomplish this year, we will continue to center our efforts on maintaining the steady and strong transition to clean energy; modernizing the energy grid to make it more dynamic, more resilient, and more secure; and developing the innovative solutions our customers expect and deserve.”
All across the country, EEI’s member companies are leading by example on clean energy. They are committed to getting the energy they provide as clean as they can as fast as they can, without compromising on the reliability and affordability that customers value. Today, nearly 40 percent of the nation's electricity comes from carbon-free sources, including nuclear, hydropower, wind, and solar energy, and carbon emissions from the U.S. power sector are at their lowest level in more than 30 years and continue to fall.
Collectively, EEI's member companies are on a path to reduce their carbon emissions at least 80 percent by 2050, compared with 2005 levels, with many member companies pledging to reduce their emissions even further and even faster.
EEI is advocating for policies that support this clean energy transition, including getting critical transmission and energy grid infrastructure built more quickly, and that recognize the key role that electrification can play in helping to reduce emissions cost-effectively in other sectors of the economy, particularly the industrial and transportation sectors.
“EEI’s member companies are well-positioned to be part of the climate solution, and we want to be part of the climate solution,” emphasized Kuhn.
In addition to highlighting the clean energy transformation that EEI’s member companies are leading, EEI’s executive team outlined the industry’s COVID-19 recovery efforts; financial performance and ESG/sustainability reporting; regulatory policy priorities; energy grid security and resilience; and the opportunity to expand affordable and reliable broadband access to all American communities through investments in the middle mile broadband infrastructure that is needed to reach these underserved and unserved areas.
“In 2021 and beyond, EEI and our member companies will continue to advocate for policies that support progress, accelerate innovation, and benefit our customers,” said Kuhn. “We will work with the new Administration, and with policymakers on both sides of the political aisle in Congress and in the states, to identify common positions, to build consensus, and to advance the policies needed to deliver a clean energy future.”
Visit EEI’s website to view prepared remarks, slides, and other materials from today’s presentation. A recording of the presentation will be available later this afternoon.
