Cap and Trade emission allowances debated in Senate

The U.S. Senate Committee on Finance held a hearing on the climate bill called Climate Change Legislation: Allowance and Revenue Distribution. The senate considered different methods to distribute the emission allowances under a cap and trade program, as well as options to distribute revenues from it.

Duke Energy 2Q profit declines 21 pct

Power company Duke Energy Co. said its profit declined 21 percent in the second quarter to $276 million or 21 cents per share from $351 million or 28 cents per share a year earlier as the economy affected commercial sales prices.

U.S. power industry changes needed for climate bill goals

The United States must build 45 more nuclear power reactors, increase the amount of coal power plants with clean coal technologies and reduce consumption of electricity by 8 percent by 2030 in order to meet emissions goals outlined in the climate bill passed by Congress, the Electric Power Research Institute said in a report today.