This week, on behalf of our members, the Pennsylvania Chemical Industry Council sent a letter to each Pennsylvania legislator to voice opposition to House Bill 11 and Senate Bill 510. This proposed legislation would increase all consumer electric bills, including those of the state’s chemical and petrochemical manufacturers.
According to an analysis by the Industrial Energy Consumers of Pennsylvania, if nuclear power generation were to be added to the Alternative Energy Portfolio Standard, the state’s industrial consumers would face at least $192 million in additional electricity costs annually.
Small manufacturers could annually pay an extra $60,000 on average, while larger manufacturers could see a nearly $2 million annual increase in electric costs. Large manufacturers with multiple facilities could face a nearly $4 million annual hike.
Deregulation in Pennsylvania has allowed competitive markets to drive energy prices, which has resulted in consumers, including our members, benefiting from new and more efficient electric generation sources. It also has allowed consumers, rather than utility companies, to drive the market.
The economic advantage of new energy resources has spurred billions of dollars of private investment in Pennsylvania’s $24 billion chemical industry. These investments have energized communities all over Pennsylvania — the state’s chemical industry supports more than 80,000 jobs, generating more than $410 million in state and local taxes and $933 million in federal taxes yearly.
With the right policies in place, more investment and job growth will be realized.