Climate bill unfair to Iowa, utilities say | DesMoinesRegister.com
MidAmerican Energy Co. and other Iowa utilities say the climate legislation is unfairly skewed toward consumers on the east and west coasts, where power companies are less dependent on coal to produce electricity.MidAmerican Energy Holdings Company: Information from Answers.com
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William Ferhman, chief executive of MidAmerican, said, "This bill as it sits today will have a tremendous negative impact on our customers."
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The utility's newest power plant, at Council Bluffs, burns coal. The plant was built after the effect of coal on the climate was well known, Baer said.
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[Rep. Leonard Boswell, D-Ia] has raised several concerns with the bill, including the effect on electric rates.
A memo circulated by his staff last week said the allocation formula was "heavily biased against the Midwest and will lead to windfall profits for companies who rely less on fossil fuels than most Midwest companies."
Warren Buffett's Berkshire Hathaway controls the company.
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1 comment:
This bill is going to pass in Congress because no one cares about Iowa. They are so hell bent on getting this bill passed that they do not care who they crush in the process. It makes one very suspicious of their motives, it sure isn’t a rush to save the planet, it’s a rush to grab the money and have control of everything. I voted Democrat last fall, and man am I regretting it now. If this bill passes I will never trust the Dems again in my lifetime, and I’m not 30 yet.
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