US Utilities Want Trump, Republicans to Save Inflation Act, Edison CEO Says

Source: US News and World Report/Reuters

Nov. 16, 2024, at 8:50 a.m.


BAKU (Reuters) - The U.S. utility industry wants the incoming Trump administration and Republican-led Congress to preserve clean energy and EV tax credits in the Inflation Reduction Act, Pedro Pizarro, the CEO of utility Edison International said on Saturday.

The 2022 IRA contains hundreds of billions of dollars in subsidies for clean energy and is billed as outgoing President Joe Biden's signature law to combat climate change. President-elect Donald Trump, a climate skeptic, has vowed to rescind it, something that would require support of Congress.

Pizarro, who until recently chaired the board of industry trade group Edison Electric Institute, said the lobby group's members have been making the case with the Trump transition team and Republican members of Congress that preserving the IRA is good for businesses and consumers alike.

"One of our big priorities as an industry is going to be to articulate the benefits of the IRA," Pizarro told Reuters on the sidelines of the COP29 climate summit in Azerbaijan. "Most of those (IRA) benefits don't actually accrue to our shareholders. They go straight to our builds and down to our customers," he said.

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