Democrats Eye Penalties for Utilities That Miss Climate TargetsBy and
Senate plan would impose clean energy mandate through budget
Program also would reward utilities for clean power gains
Senate Democrats are proposing to penalize utilities that don’t meet clean-energy targets, while rewarding those that do, as part of a mandate for carbon-free power they are preparing to move through their $3.5 trillion tax-and-spending package.
The plan, known as a clean energy standard, would mandate 80% carbon-free electricity by 2030 and require sweeping changes in the nation’s power sector. The directive would help fulfill one of President Joe Biden’s signature climate goals -- decarbonizing the electric grid by 2035 -- and help satisfy his Paris Agreement pledge to halve the nation’s greenhouse gas emissions by the end of the decade.