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©Alston & Bird LLP 2009 Cap and Trade New bills and trends EEI and US CAP views Geir Vollsaeter Special Advisor Energy and Climate Change.

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Presentation on theme: "©Alston & Bird LLP 2009 Cap and Trade New bills and trends EEI and US CAP views Geir Vollsaeter Special Advisor Energy and Climate Change."— Presentation transcript:

1 ©Alston & Bird LLP 2009 Cap and Trade New bills and trends EEI and US CAP views Geir Vollsaeter Special Advisor Energy and Climate Change

2 ©Alston & Bird LLP 2004 On the hill Cap and Dividend-Redistribute Sen. Feinstein (D) is drafting a bill that would essentially auction most all allowances for redistribution to citizens Sen. Corker (R) is evaluating the introduction of a revenue neutral bill Rep. Van Hollen is drafting a Cap and dividen bill similar to Feinstein but likely with more auctions and/or redistribution to citizens

3 ©Alston & Bird LLP 2004 US CAP Reflecting major compromises in industry and NGOs, US CAP has proposed a wide cap with linkages to international or foreign ETS Significant free allowances, phased out over time, to industries unable to compensate for the secondary price impacts in certain industries. Carbon leakage must be avoided GHG fuel performance standards Transportation measures equivalent to CAFÉ and efficiency gains for semis and long haul transprt

4 ©Alston & Bird LLP 2004 US CAP Emission Reduction Targets 97% 102% of 2005 levels by % 86% of 2005 levels by % of 2005 levels by % of 2005 levels by 2050 US peaked in 2005 wrt to CO2e emissions Gt. About one giga ton more than in 1990.

5 ©Alston & Bird LLP 2004 Edison Electric Institute on CO2 management and Cap and Trade EEI will aggressively pursue legislative and regulatory policies in support of climate- friendly technologies. Efficiency and renewables are key to near-term reductions. Maximizing new nuclear is key to mid-to-longer term reductions. The aggressive development and deployment of carbon capture and storage coupled with advanced coal technologies are necessary to preserving the coal option. Plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs) can make a major contribution to reducing net GHG emissions, as well as to reducing foreign oil dependence and consumer prices at the pump. (in ETS) Cost-containment provisions should include a price collar, which would include a firm price floor and firm price ceiling. EEI argues for a mix of free allowances and auctions where proceeds should go to cost mitigation, R&D and consumer protection.


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