National business group calls HB 1414 “a bad deal,” as it would undermine market forces and make consumers pay more
WASHINGTON, D.C., February 3, 2020 – Today, national business group Advanced Energy Economy reacted to Indiana’s House passage of HB1414, a bill that would require Indiana Utility Regulatory Commission (IURC) approval before a utility can close a coal plant and offer more money for keeping a 90-day supply of coal onsite. The vote was 52-41.
As coal plants are expected to close as they become uncompetitive with more cost-effective advanced energy resources, including wind, solar, storage, and demand-side resources, coal companies are pressuring the legislature to pass a bill that would make it harder for utilities to transition to cleaner energy resources.
"HB 1414 is a bad deal for Indiana businesses and consumers. It interferes with free market competition and it will cost Hoosiers more for electricity," said Caryl Auslander, policy director at Advanced Energy Economy.
"Today, utilities are making decisions to invest in cleaner, lower cost options that will deliver reliable power to their customers for years to come. By manufacturing a reliability crisis where none exists, this bill chooses government intervention over the market,”
“Besides increasing energy costs in Indiana, which are already high, HB 1414 would create uncertainty for advanced energy companies seeking to invest in the state,” Auslander said. “This bill flatly ignores recent findings that there is significant demand by corporations for more sources of renewable energy like solar and wind to meet their sustainability commitments. Instead, HB 1414 creates market barriers for advanced energy, which would put Indiana at a competitive disadvantage for corporate location and expansion plans, missing out on the $5.8 billion in investment and 25,000 jobs that would come with tapping more renewable energy resources across the state.”
“We look forward to sharing our concerns with Senate leaders, along with the Indiana Chamber of Commerce and Indiana Manufacturers Association plus social justice and environmental groups who all strongly oppose this bill,” added Auslander.
Background Resources:
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About Advanced Energy Economy:
Advanced Energy Economy (AEE) is a national association of businesses that are making the energy we use secure, clean, and affordable. Advanced energy encompasses a broad range of products and services that constitute the best available technologies for meeting energy needs today and tomorrow. AEE’s mission is to transform public policy to enable rapid growth of advanced energy businesses. Engaged at the federal level and in more than a dozen states around the country including Indiana, AEE represents more than 100 companies in the $238 billion U.S. advanced energy industry, which employs 3.5 million U.S. workers. Learn more at www.aee.net, track the latest news @AEEnet.
Media Contacts:
Monique Hanis, mhanis@aee.net, 202-391-0884
Caryl Auslander, causlander@aee.net, 317-316-2895