S 3, Promote Renewable Energy/Baseload Generation, has been referred to the House Energy and Energy Efficiency Comm. While we should support legislation which increases the use of renewable sources of energy, changes have been made now to encourage the use of fossil fuels.
Perhaps most troubling is a provision which would allow costs for Construction Work in Progress (CWIP) to be passed along to consumers. This means that ratepayers would be paying for the construction of new power plants before they ever started producing electricity, and even if construction were halted and they never produced electricity.
This, in effect, transfers the financial risk of building new plants from a corporation’s stockholders to its customers and would increase incentives for a company to start construction prematurely or unnecessarily.
Does anyone know what we can do to help restore the original intent? cosponsors are Cowell, Atwater and others?