Capitol Crude Podcast: What’s transmission without a little competition? A drain on your wallet, coalition says
Accommodating the growth of renewable energy needed to meet ambitious climate goals will require the US to expand the power grid. And according to Princeton researchers, those grid investments could cost upwards of $2 trillion if the US is to achieve net-zero emissions by 2050.
So who’s going to foot that bill? Well, ultimately, it’s electricity consumers that pay for new transmission, and federal policies in play right now could have a big impact on the final price tag of grid expansion.
The Electricity Transmission Competition Coalition has argued that if the US wants to meet its climate goals and lower the price of energy, the Federal Energy Regulatory Commission cannot abandon transmission competition, which the group contends can reduce the cost of grid projects by as much as 40%.
The coalition’s chairman, Paul Cicio, joined S&P Global Commodity Insights senior editor Kate Winston on the podcast to discuss why competition matters and what changes the group is seeking to a FERC proposal on the topic.