US Utilities Want Trump, Republicans to Save Inflation Act, Edison CEO Says

[BumRushDaShow]

Source: US News and World Report/Reuters

Nov. 16, 2024, at 8:50 a.m.


BAKU (Reuters) - The U.S. utility industry wants the incoming Trump administration and Republican-led Congress to preserve clean energy and EV tax credits in the Inflation Reduction Act, Pedro Pizarro, the CEO of utility Edison International said on Saturday.

The 2022 IRA contains hundreds of billions of dollars in subsidies for clean energy and is billed as outgoing President Joe Biden's signature law to combat climate change. President-elect Donald Trump, a climate skeptic, has vowed to rescind it, something that would require support of Congress.

Pizarro, who until recently chaired the board of industry trade group Edison Electric Institute, said the lobby group's members have been making the case with the Trump transition team and Republican members of Congress that preserving the IRA is good for businesses and consumers alike.

"One of our big priorities as an industry is going to be to articulate the benefits of the IRA," Pizarro told Reuters on the sidelines of the COP29 climate summit in Azerbaijan. "Most of those (IRA) benefits don't actually accrue to our shareholders. They go straight to our builds and down to our customers," he said.

Read more: https://money.usnews.com/investing/news/articles/2024-11-16/us-utilities-want-trump-republicans-to-save-inflation-act-edison-ceo-says

[PSPS]

1. "making the case with the Trump transition team"

Sorry, but it will be ignored unless you turn on the flattery (with a lot of "sirs" in it) and bring a lot of cash (at least more than anyone else with a different desire.)

[cstanleytech]

3. You mean more cash than Musk as he wants the credit canceled to hurt the competition to Tesla.

[paleotn]

2. They're invested in it. Eliminating it at this point in the process would be insane

given the capital outlays, dirt turned and plans already in motion.

Guido the Killer Pimp comes to mind. Donny is having "the time of his life." But he should also remember, "in a sluggish economy, never, ever fuck with another man's livelihood..." The real powers in a capitalist society for better or worse.

I think he's about to find out once again the limits on power for even a dictator President. But he's not really a smart kid.

[Karasu]

4. Good fucking luck with that.

They're certifiably insane.