On the recordApril 24, 2002
I wish to recognize the effort by Senator Nickles to remind us all of the obligation we have with regard to the cost of renewables. This amendment obviously would change the fee and the renewable portfolio standard from 3 cents to 1.5 cents. We have already seen the estimate by the Energy Information Administration, from the Department of Energy, relative to the calculation of what a 3-cent renewable would cost the economy and the consequence to the ratepayers, $88 billion over the next 20 years. Changing the credit from 3 cents to 1.5 cents will save about $44 billion through the year 2020. I urge my colleagues to support the amendment.
Source
govinfo.gov
