EPSA understands the need to reduce carbon emissions. Our member companies are actively working to do so. We support efforts to combat climate change through transparent, open, and nondiscriminatory competitive market mechanisms, such as an economywide price on carbon.
While some claim that environmental and energy goals are at odds, the truth is we can improve the environment, advance our economy, protect low-income customers, and ensure reliability—but we must preserve and expand competitive processes to accomplish all of these goals.
As they continue to invest in more efficient and cleaner power generation technology, including renewables, many EPSA members have long supported market-based mechanisms such as carbon pricing, and have adopted emissions reductions and clean energy targets, as well as joined coalitions with similar goals.
To achieve the best outcomes we must allow all resources to compete to reduce carbon and other emissions. Competitive markets that incorporate both environmental goals and reliability requirements will yield the lowest cost set of resources and technologies that jointly produce the greatest emission abatement while maintaining reliability.
There is broad consensus among economists and stakeholders including industry, policymakers, and advocates that market-based solutions such as carbon pricing are the most effective way to achieve deep decarbonization without sacrificing economic growth.
A competitive market approach will deliver results faster and at lower cost than a rigid patchwork of state mandates.