A Cheaper, Cleaner, More Reliable EnergyFuture.♦ On October 5, 2012, Connecticut Governor Dannel P. Malloy announced creation of a new Comprehensive Energy Strategy.♦ The 183-page strategy focused on five key areas: 1. Energy efficiency 2. Electricity supply, including renewable power 3. Industrial energy needs 4. Natural Gas 5. Transportation♦ The strategy will be implemented by the state’s Department of Energy and Environmental Protection.
Six Approaches to Help Industrial Companies.♦ In his recent Law360 article, Edwards Wildman partner David Bogan outlines six approaches the state will take to make its new energy strategy successful: 1. Reduce electric rates 2. Expand energy efficiency programs 3. Encourage fuel switching to cheaper and cleaner energy sources 4. Promote the use of combined heat and power systems 5. Address the significant role that water plays in energy production 6. Launch an energy innovation hub at the University of Connecticut to support new research♦ The strategy has a tremendous focus on natural gas – a more affordable and environmental friendly energy source – with a goal of to make it available to more than 300,000 homes and businesses. 3
Making a New Energy Future a Reality.♦ Additionally, Connecticut will take the following steps to advance a cleaner and more economic energy future: ♦ New financing ♦ Addressing the upfront conversion costs ♦ Aiding low-income homeowners ♦ Creative financing, including private capital funding ♦ Constructing 900 miles of gas mains ♦ Regulations changes allowing customers on, but not near enough for gas mains, to qualify for extended payback periods. 4