Using Markets to Fight Global Warming

Here is a remarkable step forward in fighting global warming here on the Left Coast.  “The State energy commissioners on Thursday unanimously adopted a proposal that would financially reward or punish California’s largest utilities for their performance on energy-efficiency programs.  Members of the California Public Utilities Commission voted to award up to $450 million over three years to Pacific Gas and Electric Co., Southern California Edison, San Diego Gas & Electric and Southern California Gas Co. if they meet specific goals to trim energy consumption.  While the money would come from approved rate increases, said Commissioner Dian Grueneich, who co-wrote the proposal, the increases would be more than offset by up to $4 billion in reduced energy costs for consumers.”  Follow the dancing money.

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