Business
Cap and trade would mean higher utility rates, officials say
R. SCOTT RAPPOLD
Posted:  10/31/2009 9:52 PM

“Cap-and-trade:” Polls show few Americans know what it means, even though it would be the most significant environmental legislation to come out of Congress in recent history.

Colorado Springs Utilities officials say they know what the proposed climate change legislation means: much higher utility bills for customers. Utilities officials are waging a battle, from YouTube to the halls of Congress, against cap-and-trade.

“The current bills have real winners and losers and unfortunately Colorado and Colorado Springs are net losers,” said Utilities CEO Jerry Forte, who last week went to Washington, D.C. to urge Colorado’s U.S. senators to back a different approach to climate change. His YouTube video on cap-and-trade has received 227 views.

The Senate held hearings last week on a Democrat-backed bill, and the House of Representatives passed cap-and-trade legislation in June.  Both would set a cap on carbon dioxide emissions, and utilities would have to buy credits on a credit market for emissions above what they are allocated, the “trade” aspect.