Climate Clash Looming Between Biden And Utility Sector Comes Down To 2030 Vs. 2050
For the last four years, as President Trump worked to roll back environmental regulations and boost fossil fuels, utilities forged ahead with ambitious plans to reduce emissions. Now, their climate goals will be put to the test. The environmental plans of power companies are eclipsed by President-elect Joe Biden's climate ambitions. While 33 utilities have pledged to eliminate their emissions by 2050, Biden campaigned on a promise to achieve 100% clean electricity by 2035.
Many utility executives think that timeline is unrealistic, arguing that the technology does not exist or is too costly (Climatewire, Nov. 3). Achieving a successful climate policy may depend on both sides coming to a resolution. Utilities have almost singlehandedly driven down carbon dioxide emissions across the U.S. economy in recent years (Climatewire, Jan. 7). And most plans for decarbonizing other sectors, like transportation and buildings, call for swapping out fossil fuels with carbon-free electricity. But while many power companies have committed to long-term goals for cleaning up their electricity supply, climate scientists say emissions reductions will need to come more quickly if the world is to avoid the worst impacts of a warming climate.
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Southern is eyeing a 50% reduction in emissions from 2007 levels by 2030. The Atlanta-based power company has already achieved a 44% cut in emissions, giving it 10 years to cut 6%. Duke is targeting a 50% reduction by 2030 and has already cut 39%. American Electric Power, the country's fourth-largest emitter, is in a similar boat. The company recently announced it would retire a pair of large coal plants in Texas as it works toward its goal of cutting carbon dioxide emissions 70% of 2000 levels by 2030.
It had already achieved a 65% reduction as of last year. At the same time, AEP has said it plans to operate three large coal plants through 2040. Those plants produced 24 million tons of CO2 last year, according to EPA data, or about 40% of the utility's total emissions last year.
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https://www.eenews.net/climatewire/2020/11/13/stories/1063718405
