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Top power firms urge sustainable energy policies
NEW YORK (Reuters) - Leading electricity companies from around the world on Tuesday issued a report urging governments to adopt new sustainable energy and climate policies to avoid a future environmental crisis. The report, released by the World Business Council for Sustainable Development and eight power companies, contained an agenda to secure future electric generation, bring power to more people around the world and reduce greenhouse gas emissions. The companies included ABB Ltd. of Switzerland, EDF Group and Suez of France, Eskom Holding Ltd. of South Africa, CLP Holdings Ltd. of Hong Kong, Entergy Corp. of the United States and Kansai Electric Power Co Inc. and Tokyo Electric Power Co Inc. of Japan. In the "Powering a Sustainable Future" report, the companies urged governments to start favoring low carbon sources of electricity like nuclear, solar and wind power, to boost energy conservation programs and to invest more in energy technologies. "Governments must set the framework and give financial support for the development of low carbon technologies. Nuclear power is part of the solution," said Bruno Lescoeur, senior executive vice president, international industrial and public affairs at Electricite de France SA (EDF). EDF, Europe's top power supplier, is also the region's leader in carbon dioxide-free power as its generation mix is 70 percent carbon free with 50 percent nuclear and 20 percent renewables, mainly hydro. The company will invest 3 billion euros ($3.76 billion) in wind power by 2010 and 3.3 billion euros in building a new nuclear plant by 2012. In the United States, twelve energy companies have announced plans to file with federal regulators to build up to 30 new reactors. The companies will begin submitting applications next year. COAL IS A DIRTY KING Fossil fuel, primarily coal, still satisfies a majority of the world's energy demand because it costs less to build a conventional coal power plant than a nuclear or renewable plant. Coal is also readily available in many nations. Coal, the most carbon intensive fuel, fuels about 40 percent of the world's power generation, followed by gas, nuclear and large hydro at 15 percent to 20 percent each, oil at 7 percent and other renewables at 2 percent. In the report, the companies recommended that governments encourage power plant developers to install the latest emissions reduction technologies when building a coal plant and provide incentives to make nuclear and renewables cost competitive with coal. To send a price signal for carbon, Entergy, of New Orleans, believes the U.S. should regulate carbon dioxide and develop a cap-and-trade type system that would encourage investment in clean energy technologies. The company does not support a carbon tax. Entergy, the second biggest operator of nuclear power plants in the nation, has a plan to reduce carbon emissions to 7 percent below 1990 levels voluntarily, while continuing to grow energy sales.
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