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PSE&G APPLAUDS CLINTON PLAN ON GLOBAL CLIMATE CHANGE

 NEWARK, N.J., Oct. 19 /PRNewswire/ -- Public Service Electric and Gas Company (PSE&G) expressed strong support for the Climate Change Action Plan that President Clinton unveiled this morning at a White House ceremony attended by PSE&G President Lawrence R. Codey.
 The President's plan is designed to reduce greenhouse gas emissions by 100 million tons by the year 2000 and includes 50 separate initiatives to achieve that goal.
 Codey said, "President Clinton's plan, instead of imposing rigid command and control mandates, gives electric utilities the flexibility to achieve emissions reductions through voluntary commitments and new market-based approaches such as emissions trading. We believe this program will work and will achieve the emissions reduction targets more efficiently and at lower cost."
 Codey noted that PSE&G, this summer, became one of the first electric utilities in the nation to answer a call issued by U.S. Secretary of Energy Hazel O'Leary for voluntary reductions in greenhouse gas emissions. PSE&G made a public commitment to stabilize carbon dioxide emissions at 1990 levels by the year 2000. "We intend to meet that target and we are pleased that other companies are now lining up beside us and making voluntary commitments." To date, 57 electric utilities have agreed to enter into binding greenhouse gas emissions reduction plans called "Climate Compacts." PSE&G and other utilities will be working out details of the compact during the next few months. PSE&G's measures to help reduce emissions include the repowering of older generating stations in Bergen County and Burlington County with clean-burning natural gas-fired combined cycle technology; an ambitious demand-side management program designed to cut peak energy demand by more than 1,000 megawatts; seasonal fuel switching from coal to natural gas at generating stations in Hudson and Mercer counties, and promoting electric-and-natural gas-powered vehicles. "These are vigorous steps under way for more than a year that will play an important role in PSE&G meeting its commitment to reduce greenhouse emissions," Codey said.
 Codey said PSE&G is convinced "We are likely to see reductions in greenhouse gas emissions much sooner and at lower cost under the flexible program President Clinton has proposed than through a rigid system of mandates. We are also convinced that New Jersey's and the nation's environmental and economic goals won't be achieved unless the business community and the environmental community work in concert. At PSE&G, we call this 'Shared Vision' and we are extremely pleased that President Clinton's Climate Change Action Plan embraces the notion of partnership and cooperation rather than command and control and confrontation."
 President Clinton's plan will require action by Congress before it can be implemented, and Codey urged Congress to give the legislation serious consideration when it is sent to Capitol Hill.
 -0- 10/19/93
 /CONTACT: Neil Brown, corporate communications of PSE&G, 201-430-6017/


CO: Public Service Electric and Gas Company ST: New Jersey IN: UTI SU:

JS-PS -- NY061 -- 3998 10/19/93 12:52 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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