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LPPC LAUDS HOUSE APPROVAL OF EXTENSION AND EXPANSION OF CLEAN RENEWABLE
ENERGY BOND
For Immediate Release
Contact: Bob Bonitati
December 6, 2007
954-630-1472
The Large Public Power Council (LPPC), lauded
House and Senate negotiators for including an extension and expansion of
the Clean Renewable Energy Bonds (CREBs) program in the tax title of the
House passed energy policy bill.
The CREBs program, first enacted in the Energy Policy Act of 2005,
provides governmental entities and electric cooperatives the ability to
issue tax credit bonds to fund renewable energy projects, and is due to
expire at the end of 2008.
"The LPPC congratulates House and Senate negotiators on their success on
reaching an agreement to include an extension and expansion of the CREBs
program in the energy bill. The CREBs program enables publicly owned,
not-for-profit energy systems to undertake projects to provide electricity
from renewable sources to their customers and is an important complement
to the tax incentives available to investor-owned utilities," said Joe
Beal, Chair of the LPPC.
"With the extension and expansion of the CREBs program, publicly owned
systems can contribute more fully to the dual goals of energy security and
the reduction of harmful emissions into our environment. The LPPC looks
forward to the enactment of this provision," Beal concluded.
The Large Public Power Council represents 24 of the nation's largest
publicly owned, not-for-profit energy systems. Member utilities are
located in 11 states and provide power to some of the largest cities in
the country including Los Angeles, Seattle, Omaha, Phoenix, Sacramento,
San Antonio, Orlando and Austin. Together, LPPC members control 90% of the
public agency owned, but non-federal transmission investment in the
nation.
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