Virtual Conference Week
Media Partners
Energy Security Panel
Watch Gale Klappa, WEC Energy Group and Ralph Izzo, PSEG discuss Energy Security with Steve Fleishman, Wolfe Research.
The key takeaways of the discussion were:
-
Both are focused on balancing 3 main objectives:
-
Affordability;
-
Reliability; and
-
Clean energy.
-
They see a diversity of fuel supply as necessary, citing “all of the above” strategies;
-
The US needs to focus on “energizing” the economy and take advantage of its favorable, diverse resource advantages;
-
Gale indicated more pipeline capacity is needed, as gas generation isn’t going away and CCGTs will need to run harder than ever; similarly, Ralph pushed carbon capture as a way to take advantage of existing coal/gas;
-
On clean energy tax credits, Ralph is obviously supportive of a nuclear PTC, but so is Gale – nuclear licensing decisions need to be made years in advance and right now the PTC would cost taxpayers nothing and be more of an insurance policy; Ralph still thinks there’s a chance of passage this year;
-
They both worry about affordability given fuel cost pressures but noted that WI/NJ are at the lower end of the spectrum in terms of a utility bill as a percent of total wallet share.