Truth #8: Increases Utility Rates on America’s Families and Businesses
What the bill does: Mandates a Renewable Electricity Standard, or RES, that requires retail electricity providers to generate 20% of their electricity from renewable energy sources, like wind and solar energies. The utility companies must meet this new standard by 2020. (H.R. 2454, American Clean Energy and Security Act of 2009, Sec. 101, p. 12.)
What this means for Americans: The American people will see their utility bills, in the words of President Obama, “necessarily skyrocket.” As a candidate for the presidency, then-Senator Obama noted that because of his energy plan utility companies would be forced to “retrofit” their operations. This will cost money and those costs will be passed onto American energy consumers. As a result, Americans will face skyrocketing electricity rates as utility companies pass on the costs of constructing and bringing new renewable forms of energy online.
At a time when America’s families are struggling and need relief from higher prices across the board, the Democrats have proposed a massive national energy tax.