Carcieri wants new Power Authority<br> to promote renewables

PROVIDENCE – Gov. Donald L. Carcieri has submitted a bill to the General Assembly to create a R.I. Power Authority to spearhead the development of renewable energy sources and ensure that Rhode Islanders are the primary beneficiaries of the electricity that’s produced.
The bill, co-sponsored by Senate Republican and Democratic leaders, was to be heard by the Senate Corporations Committee on Thursday.
In a news release, the governor said the measure is “a critical step” in the effort to get Rhode Island to meet 15 percent or more of its electricity needs with energy from renewable sources.
“I believe it is critical that we decrease Rhode Island’s reliance on foreign sources of fossil fuels,” he said. “The high cost of foreign oil hurts Rhode Island families and businesses, while polluting our environment.”
The new quasi-public entity would be responsible for authorizing and helping to finance the development of renewable energy sources, such as wind power and hydroelectric projects. It would also be authorized to trade the electricity generated by those projects.