"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Thursday, April 26, 2007

Enlightened Dynamo Or An Electric Opportunist?

Ralph Izzo is president of Public Service Enterprise Group (PSEG) and a former staffer of Sen. Bill Bradley and Gov. Tom Kean. So he knows his way around politics and the media.

According to the Star-Ledger’s Tom Moran, Izzo is the energy industry's enlightened dynamo because he wants to reduce reliance on coal by making it much more expensive to burn. Fifty percent of the electricity in the U.S. is generated by coal so we’re talking about big bucks and major economic repercussions if his idea was adopted.

"Ralph Izzo is a visionary," says Frank O'Donnell, president of Clean Air Watch, a major green lobby in Washington. "He's really willing to buck the system. I think that's huge, politically."
Is Izzo a visionary or just a politically savvy guy exploiting the global warming craze and working the system for profit?

Izzo’s pushing for state regulators to approve utility price hikes to pay for lost business due to conservation. He’s announced a solar energy program*, that will generate more in positive company PR and ultimately dollars to PSEG’s bottom line, than electricity. He’s also proposing a plan that would jack up the cost American consumers pay for electricity, excluding the poor who would be subsidized by regular ratepayers, while improving his company’s advantage in the marketplace.

Izzo wants the federal government to cap emissions of greenhouse gases and require utilities to purchase credits at auction for any carbons they do emit. The proceeds could be used to fund research into alternative fuels and to help low-income households purchase the higher-cost power.

Izzo is a fan of nuclear power, which produces no greenhouse gases.

The coal-burning utilities call Izzo's approach simple self-interest. PSEG relies so heavily on nuclear power that it would not pay as much.
We are also fans of nuclear power, but it certainly seems Izzo is more of an opportunist than an environmentalist. A new study appearing in the April 1 issue of the journal Environmental Science and Technology notes:

No new nuclear power plants have been built in the United States in 29 years, in part because they've proved to be poor investments, producing far more expensive electricity than originally promised. In 2005, about 19 percent of U.S. electricity generation was produced by 104 nuclear reactors.

The Energy Policy Act of 2005 and the Advanced Energy Initiative of 2006 sought to change that, offering financial incentives for new plant construction that employs new reactor and new safe-operating technologies. Current nuclear plant operators have given notice that they intend to apply for approval of 27 new "generation III+" reactors.
Those two major pieces of federal legislation not only promote nuclear energy but, cover all energy sources and uses. Plans for improving energy efficiency and conservation, the development and use of alternative and renewable energy, and the modernization of the country’s electricity grid were among the many initiatives advanced in the laws.

However, Tom Moran scoffs at these measures and points to actions by New Jersey lawmakers as momentous.

New Jersey, like California, is getting tired of watching the glaciers melt while the Bush administration does nothing to slow global warming.

This year, the Legislature is almost certain to approve a bill that requires deep cuts in emissions -- an 80 percent drop by 2050. The governor has already signed an executive order embracing the same goal.
Great goal, what’s the plan?

So far, though, no one has spelled out how that can be done. The bill would require that we fill in the details within a year. So the hard work lies ahead.
In other words, Trenton has produced nothing but hot air. These political gasbags won’t come up with the “details” before the next ice age, so can we skip the talk and start building some nuclear power plants. Make them safe and efficient Mr. Izzo and your competition will follow.

* PSEG solar energy program
PSEG will put up a $100 million for solar energy projects and earn a nice profit on this fairly complicated scheme. The plan calls for the company to provide loans to customers to cover as much as half the cost of a solar installation project, with the utility getting repaid, with interest, over 15 years. Customers would pay the remaining cost directly or through an equity partner, such as a bank or investor, that is eligible to collect the federal investment tax credit.

PSEG would also recoup its investment though the existing “societal-benefits charge” that all customers pay. In addition, the company will receive credits called solar renewable energy certificates, or SRECs, which have value in the energy marketplace. The plan calls for them to be valued at $475 for each megawatt generated, about 50 percent higher than SRECs that are included in a solar program run by the New Jersey Board of Public Utilities (BPU).

Labels: , , , ,

 Contact Us

  • Email Us
  • Blog Roll Us!



  • Atom Feed
  • Bloglines
  • Feedburner
  • Feedster
  • Add to Google
  • Add to My MSN
  • Add to My Yahoo
  • News Is Free

    Recent Posts

  • Heroine Hillary
  • The Battle For Newark
  • Corzine Lucky To Be Alive
  • New Jersey’s Boom in Illegal Immigrants
  • The Bush Administration Conspiracy de Jour
  • The Burlington Township School Attack Scenario
  • New Jersey’s Pension Funding Crisis
  • Blue Jersey Blows It Again
  • The Upper Hand and Other Myths Busted
  • Blue Jersey Wrong Again About Chris Christie


  • November 2004
  • December 2004
  • January 2005
  • February 2005
  • March 2005
  • April 2005
  • May 2005
  • June 2005
  • July 2005
  • August 2005
  • September 2005
  • October 2005
  • November 2005
  • December 2005
  • January 2006
  • February 2006
  • March 2006
  • April 2006
  • May 2006
  • June 2006
  • July 2006
  • August 2006
  • September 2006
  • October 2006
  • November 2006
  • December 2006
  • January 2007
  • February 2007
  • March 2007
  • April 2007
  • May 2007
  • June 2007
  • August 2007
  • September 2007
  • October 2007
  • November 2007
  • December 2007
  • January 2008
  • February 2008
  • April 2008
  • November 2008
  • January 2009
  • August 2009
  • September 2009
  • February 2012

    Online Journals

  • National Review

  • Opinion Journal

  • Real Clear Politics

  • Weekly Standard

  • Blog Roll

  • A Blog For All
  • Althouse
  • Ankle Biting Pundits
  • Barista of Bloomfield Avenue
  • Betsy's Page
  • Blue Crab Boulevard
  • Blogs For Condi
  • Bob the Corgi
  • Brainster's Blog
  • BuzzMachine
  • Captain's Quarter's
  • Cinnaman
  • Coalition of the Swilling
  • CWA-NJ
  • Dino's Forum
  • Daily Mail
  • Don Surber
  • DynamoBuzz
  • eCache
  • Exit 4
  • Fausta's Blog
  • GOP Bloggers
  • Instapundit
  • Joe's Journal
  • Kate Spot
  • Kausfiles.com
  • Little Green Footballs
  • Michelle Malkin
  • More Mnmouth Musings
  • Parkway Rest Stop
  • Patrick Ruffini
  • Polipundit
  • Power Line
  • Right Wing News
  • Roger L. Simon
  • The Blue State Conservatives
  • Riehl World View
  • Red Jersey
  • Right, Wing-Nut!
  • Sid in the City
  • Tiger Hawk
  • The Truth Laid Bear
  • Tim Blair
  • Wizbang

  • Sid in the City

    Majority Accountability Project


    New Jersey Blogs


  • 11th and Washington

  • A Blog For All
  • A Planet Where Apes Evolved From Man?!?
  • Armies of Liberation
  • Atlantic Highland Muse
  • Attack of the 15.24 Mete

  • Barista of Bloomfield Avenue
  • BeLow Me
  • Big Windbag
  • Blanton's and Ashton's
  • Blue State Conservatives
  • Burning Feathers
  • BuzzMachine

  • Clifton Blogs
  • Coalition of the Swilling
  • Cobweb Studios
  • CoffeeGrounds
  • Constitutional Conservative
  • Confessions of a Jersey Goddess
  • Corzine Watch
  • Crazy Jackie
  • Cresting Acrocorinthus
  • Cripes, Suzette!

  • Daniella's Misadventures
  • Did I Say That Out Loud
  • Dojo Mojo
  • Dossy's Blog
  • Down the Shore
  • DynamoBuzz

  • eCache
  • Enlighten-NewJersey
  • Eye On Hoboken
  • Exit 4
  • Exit Zero
  • Extreme-Psychosis

  • Fausta's Blog
  • Fausti's Book Quest
  • Fractals of Change
  • Frenchtown NJ Blog

  • GiggleChick
  • Gregg Gethard's Amazing Personal Journey
  • goethe re scape

  • Hoboken Rock City

  • IamBillPower
  • If this is paradise, I wish I had a lawn-mower
  • Imaginary Therapy
  • Inadmissible Evidence

  • Jersey Beat
  • Jersey Perspective
  • Jersey Side
  • Jersey Style
  • Jersey Writers
  • Joe's Journal

  • Karl's Corner
  • Kate Spot

  • Laughing At The Pieces
  • Likelihood of Confusion
  • Liss Is More

  • Mamacita
  • Mary's Lame Attempt at Fame
  • Media in Trouble
  • Michael Carroll
  • Mister Snitch!
  • MucknMire
  • My Life as a Rabid Blog
  • My New Jersey

  • New Jersey Eminent Domain Law
  • NJ Conservative
  • NJ Fiscal Folly
  • New Jersey For Change
  • New Jersey Weblogs
  • NJ Spoken Word
  • Northeast Corridor

  • Parkway Rest Stop
  • Philly2Hoboken.com
  • Poetic Leanings
  • Poor Impulse Control
  • Professor Kim's News Notes
  • Property Tax NJ

  • Rain Angel
  • Riehl World View

  • Shamrocketship
  • Shipwrecks
  • SloppyDawg
  • Sluggo Needs a Nap
  • SmadaNeK
  • Static Silence

  • Tami,The One True
  • Tammany on the Hudson
  • Tequila Shots For The Soul
  • The Art of Getting By
  • The Center of New Jersey Life
  • The Daily Fry
  • The Duc Pond
  • The Jersey Shore Real Estate Bubble
  • The Joy of Soup
  • The Mark(ings) of Zorro
  • The New Wisdom
  • The Nightfly
  • The Opinion Mill
  • The Pink Panther
  • The Political Dogs
  • The Rix Mix
  • This Full House
  • Tiger Hawk
  • Tomato Nation
  • Toxiclabrat
  • Twisty

  • Unbillable Hours
  • Usdin.Net

  • Where Is The Remote
  • Wine Goddess

  • Xpatriated Texan

  • Links

  • NJ Governor
  • NJ Legislature
  • Bob Menendez Information

  • Blog Rings

  • Blog Explosion
  • Blog Directory
  • Blogsnow
  • Blogwise
  • Blogstreet
  • Blogshares
  • Blogarama
  • Blog Digger
  • Daypop
  • Globe of Blogs
  • Blog Search Engine

  • Ecosystem Status

  • Who Links Here