From Dow Jones via CNN Money:
As the U.S. Congress moves closer to adopting a climate change law,
"We (need) both a regulatory regime to put a price on carbon, but we also need greater investment in new technology," Duke Chief Executive
Under a U.S. cap and trade scheme, Duke wants the government to give utilities most, if not all, the carbon emission allowances that they'll need to start the program, at no charge. Under a bill in Congress, utilities would get 75% of the allowances they would need for free, and they would have to purchase 25% in an auction. The amount of allowances available would shrink over time, and the allowances given to utilities for free would also dwindle to about 28%, under the bill. Like other greenhouse-gas emitters, utilities that couldn't cut their emissions by the required amount could purchase emission offsets in the carbon markets to comply with the cap....More
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This one too.