Political Quotes

Angie Craig: It assumes there is a renewal of it. Because what you do, what you know you are doing, if your policy becomes law--there…

On the recordJune 14, 2007
It assumes there is a renewal of it. Because what you do, what you know you are doing, if your policy becomes law--there is no opt out at this point--you drive the entire national utility marketplace to a standard. By driving them there, you give them this opportunity, and it is a U.S. tax opportunity. There is no question that is the tax credit. You must go here. And when you go there, you can identify with the tax credit under the assumption--and that is fair--the Finance Committee is going to come forth with it. And we have every reason to believe they will. That is what drives it. The reason it does is because, if you do not, you put the industry in a very precarious situation. Wind today does not pay its way. It is still on the margin. Based on its productivity in certain wind patterns, it has to be subsidized to fit into the market. How you subsidize it is through the credit, or you are simply saying you are going to do something you cannot afford to do, so you are going to have to go right to the ratepayers and charge them a much higher price than you otherwise would with the credit to come into compliance with the RPS. Yes. So that is the appropriate assumption of this chart.
Said by
Angie Craig
Democratic · Minnesota

Editor's note · Context

Discussing the implications of renewable energy policy and tax credits on the utility marketplace.

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