May 15,2009
National Grid today welcomed the Waxman-Markey Bill that aims to legislate the first Federal measures to control greenhouse gas emissions in the US.
Tom King, President of National Grid U.S., applauded the introduction of this significant Bill.
“Tackling climate change through comprehensive legislation that is fair and balanced and supported by the Obama Administration is a significant step forward for our nation, and one that it is long overdue. But we are in difficult times and we must work together to drive economic recovery and ensure the right long term investments are made in energy efficiency and renewable energy.”
National Grid welcomed the announcement on emission allowance allocation, but stressed that those receiving allowances have an important role to play. "Everyone involved has a responsibility to use those allowances wisely and, most importantly, protect customers as we move to a low carbon future," said King.
“We all have a role to play in protecting our environment for the future and at National Grid, we look forward to fully participating on the next steps to help ensure climate change policy becomes reality,” added King.
National Grid is an international energy delivery company and a long time leader in energy efficiency programs in the U.S. The company has already reduced its carbon emissions by 30% against a 1990 baseline and has emission reduction targets of 45 percent by 2020 and 80 percent by 2050. It has also introduced internal ‘carbon budgets’ tied to executive compensation to help reach those targets.
In the U.S., National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New Hampshire, New York and Rhode Island. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.