CHICAGO, Nov. 17 (UPI) -- Market mechanisms for cap-and-trade systems will drive down energy prices for U.S. consumers while addressing climate change, Exelon executives said.
John Rowe, chief executive at the U.S. Midwest utility Exelon, said climate legislation before U.S. lawmakers on cap-and-trade addresses the threat of global warming while controlling prices for consumers.
Lawmakers are debating a series of cap-and-trade bills that would push green energy technology in the United States.
Rowe said the market mechanisms envisioned in the cap-and-trade scheme make it less expensive to cut emissions while curbing cost increases to consumers.
Opponents complain current legislation does not go far enough to push renewable and clean energy technologies, while others protest the expected increase in costs for low-income consumers.
Exelon said it was not waiting around for U.S. lawmakers to address climate change. Its plans for 2020 include displacing more than 15 million tons of emissions in the next decade. The company said it cut its own emissions by more than 35 percent during the past 7 years.
"Make no mistake: we are acting in one way or another to address climate change," said Rowe. "As we act, the key consideration needs to be whether we are doing the cheapest things first."
