Washington, D.C. (February 08, 2022) — Edison Electric Institute (EEI) President Tom Kuhn today issued the following statement:
"EEI and a delegation of CEOs representing investor-owned electric companies from across America this afternoon met with President Joe Biden, U.S. Department of Energy Secretary Jennifer Granholm, U.S. National Climate Advisor Gina McCarthy, and other Administration leaders to discuss our industry’s clean energy leadership and our strong support for legislation that incorporates forward-thinking actions to address climate change, including a robust clean energy tax package that will deliver significant long-term benefits for electricity customers.
"The clean energy tax policies that we discussed would allow electric companies to accelerate the clean energy transition while preserving electric reliability and affordability for the customers and communities that we serve. We thank President Biden, Secretary Granholm, and National Climate Advisor McCarthy for recognizing the opportunity that we have to use resilient clean energy to reduce carbon emissions across the U.S. economy and to create good paying union jobs.
“We will continue to urge Congress to support technology-neutral tax policies and to pass legislation that provides optionality in choosing between the production tax credit (PTC) and investment tax credit for solar; alternatives to normalization for regulated electric companies; 100-percent direct pay for the clean energy credits; a nuclear PTC for existing facilities; new tax credits for storage, transmission, and hydrogen; and expansion of the EV tax credit/EV infrastructure credit.
“The suite of tax incentives currently under consideration will create a level playing field that recognizes the role of electric companies in deploying more clean energy and will help to preserve the existing nuclear fleet, so new clean energy deployments contribute to additional emission reductions. Importantly, they allow companies to make choices about what technologies they deploy, while balancing reliability and resilience. In addition, including 100-percent direct pay as an option for all the credits recognizes the importance of delivering these technologies to customers in an affordable way.
“EEI and our member companies are well-positioned to be part of the climate change solution, and we remain committed to working with the President, his Administration, and Congress to advance the policies that we need to get this done.”