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Leonard backing American Power Act

NEW ORLEANS — Entergy chairman and CEO J. Wayne Leonard has issued a statement in support of the introduction of the American Power Act, which was announced by Sen. John Kerry (D-Mass.) and Sen Joe Lieberman (I-Conn).

Leonard, said: “Senators Kerry and Lieberman are to be commended for their leadership in introducing meaningful climate change legislation and, in doing so, helping the United States take a major step forward in solving the biggest challenge of our time. With vital assistance from Senator Graham, Senators Kerry and Lieberman have provided the Senate with an excellent proposal for a comprehensive legislative package that will reduce our country’s greenhouse gas emissions.

“Entergy supports the bill’s market-based approach, which will put a price on carbon dioxide. This is the most effective and efficient way of achieving reduction of greenhouse gases and spurring innovation and investment into new carbon-reducing technologies. The company also supports the bill’s incentives for the development of retrofit carbon capture and sequestration technologies, a critical component to effectively addressing emissions from this country’s coal fleet and the world’s rapidly growing number of coal plants. Additionally, the bill’s hard price collar is a critical cost-control mechanism that will provide an adequate and durable CO2 price signal while preventing unacceptable CO2 price spikes. Finally, the bill’s provision to provide additional assistance to low and middle income consumers is crucial to preventing the regressive impacts of higher energy costs on American families.

“Entergy applauds Senators Kerry’s and Lieberman’s leadership and tireless efforts to bring this proposal forward. We look forward to learning more about the bill, and we hope that it becomes the basis for the enactment of comprehensive climate change legislation.”

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