FOR IMMEDIATE RELEASE                                                             Tuesday, April 15, 2008

Contact: Senator Martha Fuller Clark

(603) 271-6933

SENATORS HEAR TESTIMONY ON BILL TO REDUCE GLOBAL WARMING

CONCORD – Joining the Regional Greenhouse Gas Initiative will allow New Hampshire to reduce carbon pollution, improve energy efficiency and ultimately save ratepayers money, according to testimony before the Senate Energy, Environment and Economic Development Committee today.

“It is economically beneficial for the state to participate in the Regional Greenhouse Gas Initiative,” said Ross Gittell, of the University of New Hampshire’s Whittemore School of Business and Economics. Gittell led an analysis of the economic impact of the regional cap-and-trade program and testified before the Senate committee today.

Gittell found that most residential and business customers in New Hampshire would see a small increase when RGGI is first implemented but electric bills would begin to decrease by 2018. In addition, he estimates another 800 jobs will be created as RGGI spurs the demand for clean energy.

The bill passed in the House 214-107 and is now being taken up in the Senate. The legislation has the support of Governor John Lynch and the state Department of Environmental Services.

“Our electric bills will be affected whether we participate or not,” noted Senate President Sylvia Larsen, a co-sponsor.

RGGI would require electric utilities to pay for the right to emit each ton of carbon. Nine other states have commit to the program and this will affect costs on the regional energy market, where New Hampshire buys most of its electricity. By participating in the regional auction of carbon allowances, New Hampshire would raise an estimated $10 million to $12 million for local businesses and homeowners to use toward reducing energy use through improved efficiency. Participation also would reduce the need for expensive upgrades to the state’s old power plants.

 “Energy is essential to our economic growth. By providing clean energy and improving our energy efficiency, we can have economic growth and still be responsible stewards of our beautiful state,” Larsen (D-Concord) said.