Emulating California's Renewable Energy Initiatives

摘要

California has long been the leader in utilizing state-level governmental mandates as a means of meeting environmental goals. Indeed, the state's energy policies have flooded the wholesale market with subsidized renewable generation, wreaking havoc on the economics of merchant generation with a large over-supply of electricity in the state. Moody's Investors Service now sees Massachusetts and New York emulating California's policies as a means of stimulating renewable generation. Charles Berckmann, an assistant vice president at Moody's, coauthored a report examining both states' initiatives, and here addresses some key questions for PUF.