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:
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Both are focused on balancing 3 main objectives:
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Affordability;
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Reliability; and
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Clean energy.
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They see a diversity of fuel supply as necessary, citing “all of the above” strategies;
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The US needs to focus on “energizing” the economy and take advantage of its favorable, diverse resource advantages;
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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;
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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;
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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.