NEWARK, NJ--Calling the passage today of the American Clean Energy and Security Act a significant step towards getting comprehensive climate change legislation signed into law, PSEG Chairman Ralph Izzo thanked the members of the New Jersey delegation for voting in favor of the bill and recognizing the opportunities for economic growth, and consumer and environmental protection.
"I am encouraged by the action in the House today," Izzo said. "The country is getting serious about the need to address global warming, and its leaders understand the relationship between environmental protection, economic growth and consumer protection. The legislation was carefully crafted to balance all of these important interests."
Izzo thanked the members of the New Jersey delegation who voted in favor of the bill. They are:
Rep. John Adler
Rep. Rob Andrews
Rep. Rush Holt
Rep. Leonard Lance
Rep. Frank LoBiondo
Rep. Frank Pallone
Rep. Bill Pascrell
Rep. Donald Payne
Rep. Steven Rothman
Rep. Albio Sires
Rep. Chris Smith
"This legislation will provide business leaders with a level of certainty that will allow them to plan and expand, and it will create jobs that will usher in a new green economy," Izzo said. He noted a calculation from the Pew Charitable Trusts, which showed that by they year 2007 some 2,000 businesses had generated more than 25,300 energy-related jobs in New Jersey.
The legislation will drive investment in energy efficient technologies and renewable energy by putting a price on carbon emissions. It will enable rate relief for consumers through the allocation of emissions allowances and it will bring the rest of the country under the same level of carbon regulation as New Jersey, which passed a statewide global warming law last year.
Public Service Enterprise Group
www.pseg.com
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