PTC extension recommended by US gov council
UNITED STATES: President Barack Obama's Council on Jobs and Competitiveness has recommended extending the US production tax credit (PTC), helping put the issue back on the radar screen as lawmakers return to Washington after the holiday break.
The council said the PTC, set to expire at the end of this year, will help the US "diversify its generation portfolio and prepare for rising levels of energy demand."
General Electric CEO Jeff Immelt and Nextera Energy CEO Lewis Hay are both council members.
American Wind Energy Association CEO Denise Bode seized on the endorsement, calling it "yet another indication of how vital wind power has become as a source of American jobs and how important fast action on the PTC is to keeping this economic success story going."
Congress needs to act quickly to deal with a payroll tax cut and jobless benefits, giving renewable-energy advocates another opening to push for a PTC extension.
