Jeff Bingaman: “this is an amendment which says utilities that produce electricity in this country by the year 2020 should ensure that…”

“this is an amendment which says utilities that produce electricity in this country by the year 2020 should ensure that up to 10 percent of their electricity comes from renewable sources. It doesn't specify which renewable sources. It gives them a variety of choices. According to the Energy Information Agency, the $18 billion is more than offset by the savings these utilities will get by not having to invest in additional traditional sources of generation. This will result in a reduction in electricity rates and a reduction in gas rates, according to our own Department of Energy. I believe this is good legislation. I hope my colleagues will support it. It will strengthen this bill and give us a much better energy bill to take to conference. I ask unanimous consent that Senator Snowe of Maine be added as a cosponsor to the amendment. The PRESIDING OFFICER. Without objection, it is so ordered. The question is on agreeing to amendment No. 791.”