MBEF July Update
MBEF Members – We hope your summer is going well. Below are some recent happenings in Missouri energy news:
Noranda Rate Shift Claim
As mentioned previously, Noranda Aluminum’s claim before the Public Service Commission, seeking to shift over half a billion dollars onto the backs of Missouri electric utility users is in the hands of the PSC Commissioners.
A recent investment report shows the future looks bright for Noranda and its stockholders. Analysts are raising their estimates prior to Nornada’s earnings report, which is usually a good sign if you are an investor. Reports like these raise questions as to why this bailout on the backs of Missouri taxpayers is even being considered.
Will the PSC give out an unprecedented handout to a company controlled by a billion dollar Wall St. hedge-fund? Stay tuned.
EPA Carbon Proposal
The Environmental Protection Agency’s aggressive proposed plan continues to spark debate as Missouri utilities and consumers brace for its impact. The Missouri Department of Natural Resources held its first public meeting to discuss the proposal. Uncertainty remains as the topic was discussed amongst interested parties. The biggest question is will the plan be based on cutting emissions in total or measured by usage of electricity. Reducing emissions from power plants and increasing energy efficiency will both be part of the solution, but how much and at what cost to the consumer? Look for more public meetings hosted by DNR to discuss Missouri’s energy future.
Governor Signs Energy Bills
Earlier this month Governor Nixon signed Senate Bills 601 and 729, which reauthorize a tax deduction for energy –efficiency audits and a tax credit for wood energy producers, respectively. Both bills are positive energy solutions for Missouri. Congratulations to those legislators involved in their passage.
Governor Nixon also signed House Bill 1631, which establishes more authority to the Air Conservation Commission as it relates to the upcoming federal emissions standards. The Commission will play a critical role when and if the new EPA standards go into effect.
