EnergyBiz reports that FPL Energy might be a big winner if carbon-reduction legislation becomes law (Hat tip: Joe Somsel):
At a shareholder meeting in May, FPL Group Chief Executive Lew Hay III told investors that pending carbon legislation could within a few years boost the company’s annual earnings by $690 million a year, depending on how greenhouse gases are priced. FPL is the country’s biggest supplier of wind and solar power and a favorite of analysts.
If today’s rent-seeking by energy and power companies is any guide, should cap and trade become the law of the land, prepare to see lobbying the likes of which we have raely seen, as companies clamor for favored status in the new fixed-carbon-credits world order. It won’t be pretty.