Washington,
D.C.
— TechNet, the national, bipartisan network of innovation
economy CEOs and senior executives, today welcomed the Federal Energy
Regulatory Commission’s (FERC) unanimous decision rejecting a proposed rule
that would have severely disrupted energy markets in favor of coal.

The following statement can be
attributed to Linda Moore, President and CEO of TechNet:

“FERC’s
rejection of this rule is important for maintaining competitive power markets
in the United States and not tipping the scale in favor of one industry. This decision promotes stability and
affordable pricing in power markets and ensures American businesses in this
sector can continue to grow and thrive in the global economy.
We applaud FERC for making the right
decision in rejecting this proposal.”

The
proposed rule would have required for the recovery of costs for power plants that keep 90 days
of fuel supplied on-site, which would have unfairly favored legacy generating
plants at the expense of innovative energy technologies. According to The Economist, “If the FERC
adopted [the] rule, it would have amounted to one of the biggest government
interventions in energy markets for decades, and risks frightening investors by
putting the thumb on the scale for coal and introducing policy uncertainty.”

TechNet
expressed opposition to the proposed rule in comments submitted to FERC on October 20.