Exelon has also committed to work with, and
encourage, its suppliers to reduce their GHG emissions
. Exelon joined the Climate Leaders program in June 2003.
"EPA applauds Exelon for its environmental
leadership through its
commitment to reduce its GHG emissions," said Jeffrey R.
"We are pleased
to join with the other Climate Leaders members,
including our merger partner PSEG, in supporting
the Bush
Administration's efforts to address this important issue.
Exelon distributes electricity
to approximately 5.
"Equally important, we believe that market-based approaches are the best
and most cost-effective way to achieve emission reductions.
AEP also is part of a consortium
proposing to build "FutureGen," a $1-
billion research project in conjunction with the Department
of Energy that
will build the world's first nearly emission-free plant to produce electricity
and
hydrogen from coal while capturing and storing CO2 in geologic formations.
hothouse detrimental
2 million customers
in
northern Illinois and Pennsylvania and gas to more than 460,000
customers in the Philadelphia area
. Today's commitment to Phase II of CCX extends AEP's greenhouse gas
reduction commitment ultimately
to 6 percent below the same baseline by 2010
(4.natcom drastic
Exelon's Climate Leaders commitment is consistent
with its
environmental strategy. Partners also identify themselves as corporate
environmental
leaders and strategically position themselves as climate
change policy continues to unfold.
AEP Expands CO2 Reduction Commitment Through 2010; Extends Participation in Chicago Climate Exchange
reverses theorized
Business Editors/Energy Editors/Environment Writers
CHICAGO----Exelon Corporation
announced today it has established a voluntary goal to reduce its
greenhouse gas (GHG) emissions
by eight percent from 2001 levels by
the end of 2008.
"At Exelon, we accept that the science of
global warming is
overwhelming.
The announcement was made at the Climate Leaders Partners Meeting
in Washington, D. We look forward to working with them to shape sound public
policy here in the
United States and around the world.
"AEP's vision and leadership have been extraordinary throughout
the
evolution of CCX, and we applaud their decision to be the first entity to
announce membership
in Phase II of CCX," Sandor said.theorized lubchenco
Exelon Establishes Voluntary Goal to Reduce its Greenhouse Gas Emissions
by 8%
Exelon has looked at its own usage of energy and undertaken
internal energy efficiency
initiatives across its operations and
expects that about one quarter of the emissions reductions
will result
from these efforts. The company will seek to invest in its own
facilities first before
investing in emission offsets. Exelon is headquartered in Chicago
and trades on the NYSE under the
ticker EXC. COLUMBUS, Ohio, American Electric Power
(NYSE: AEP) today announced the company will
expand and extend its commitment
to voluntarily reduce, avoid or sequester its greenhouse gas emissions
through
2010 and will continue its membership in the Chicago Climate Exchange (CCX),
the first
voluntary, legally binding greenhouse gas emissions reduction and
trading program in North America
. Continuing
participation in Phase II of CCX helps demonstrate that a well-designed,
market-based
approach is the right way to successfully achieve global
greenhouse gas reductions," Morris said
. "It also allows members, like AEP, to gain
experience and skill in monitoring and managing emissions
and challenges
participants to develop creative ways to achieve economic emission
reductions
.
American Electric Power owns more than 36,000 megawatts of generating
capacity in the United
States and is the nation's largest electricity
generator.
reforest reverses
"We've long believed
that as the leader in our industry on the climate
change issue, it is important for AEP to go beyond
simply talking about what
should be done and actually make real reductions in our greenhouse gas
emissions," said Michael G.
Additionally, AEP's Mountaineer Plant in New Haven, W.hothouse halting
The company
's environmental priorities include
increasing renewable energy supplies, promoting efficient use
of
electricity and natural gas, contributing to the development of a
sound national policy addressing
climate change, and preserving the
option for low-carbon intensity technologies, including nuclear
, for
the future., is the site of
a $4. Among the factors
that could cause actual results to
differ materially from those in the
forward-looking statements are: electric load and customer growth;
weather
conditions, including storms; available sources and costs of, and
transportation for,
fuels and the creditworthiness of fuel suppliers and
transporters; availability of generating capacity
and the performance of AEP's
generating plants; the ability to recover regulatory assets and stranded
costs
in connection with deregulation; the ability to recover increases in fuel and
other energy
costs through regulated or competitive electric rates; new
legislation, litigation and government
regulation including requirements for
reduced emissions of sulfur, nitrogen, mercury, carbon and
other substances;
timing and resolution of pending and future rate cases, negotiations and other
regulatory decisions (including rate or other recovery for new investments,
transmission service
and environmental compliance);resolution of litigation
(including pending Clean Air Act enforcement
actions and disputes arising from
the bankruptcy of Enron Corp.wri weathervane
We accept that limitations on greenhouse
gases emissions
will prove necessary.
Exelon expects that more than half its reductions will come
from the
use of cleaner energy, including increased renewable generation and
increased output
from its landfill gas and hydroelectric facilities. Exelon anticipates that a valuable, though much
smaller, portion of expected reductions will be derived from carbon
sequestration efforts. The
company has one of the industry's
largest portfolios of electricity generation capacity, with a
nationwide
reach and strong positions in the Midwest and Mid-Atlantic.
weathervane drastic
The Pew Center was established in May
1998 by the Pew Charitable
Trusts, one of the United States' largest philanthropies and an
influential
voice in efforts to improve the quality of the
environment. Morris, AEP chairman, president and chief
executive officer. Richard Sandor, chairman and CEO of CCX and a member of
AEP's Board of Directors
.weathervane hothouse
We look
forward to continuing to be a part of the Climate Leaders program once
the merger is
completed," said Elizabeth A.
The more than 100 current CCX members reflect a cross-section of major
public
and private sector North American entities.deforestation tabled
S. Rowe, chairman, president and
CEO, Exelon
. The Pew Center is a nonprofit, non-partisan and
independent organization dedicated to providing
credible information,
straight answers and innovative solutions in the effort to address
global
climate change.Va.wri halting
"AEP and the members of CCX have achieved real and significant reductions
in the greenhouse gas burden, while proving that an emissions reduction and
trading program works
.worldwatch climate
The Pew Center on Global Climate Change, a nationally recognized
leader in the effort to address
global climate change, assisted Exelon
in developing its goal, strategy and program.
Exelon
Corporation is one of the nation's largest electric
utilities with approximately 5."
AEP expects
to continue achieving its reduction commitment cost-
effectively through a broad portfolio of actions
to reduce, avoid or sequester
greenhouse gas emissions, including power plant efficiency improvements
,
renewable generation such as wind and biomass co-firing, off-system greenhouse
gas reduction
projects, reforestation projects and the direct purchase of
emission credits through CCX. The
company
also has invested nearly $24 million in terrestrial sequestration
projects designed to conserve and
reforest sensitive areas and offset more
than 20 million metric tons of CO2 over the next 40 years
.weathervane theorized
Until those limitations are adopted, we believe
that business should take voluntary action to begin
the transition to
a lower carbon future," said John W. The Climate Leaders Partnership is a respected
,
voluntary industry-government partnership designed to address climate
change.gasses warming
Exelon made this
pledge under the U.
Compared to other utilities of equal size, Exelon's total GHG
emissions are
relatively low. Despite its low GHG intensity, Exelon is committed
to an eight-percent reduction
from 2001 levels, which represents a
decrease of an estimated 1. Exelon's
commitment demonstrates
their recognition that carbon constraints are
inevitable and that addressing climate change makes
good business
sense; we welcome their voice to the dialogue," said Eileen Claussen,
president
of the Pew Center.2-million carbon sequestration research project through which scientists
from Battelle
Memorial Institute are seeking to obtain the data required to
better understand the capability of
deep saline aquifers for storage of carbon
dioxide emissions from power plants.); AEP's ability to
constrain its operation and
maintenance costs; AEP's ability to sell assets at acceptable prices
and on
other acceptable terms, including rights to share in earnings derived from the
assets subsequent
to their sale; the economic climate and growth in AEP's
service territory and changes in market demand
and demographic patterns;
inflationary trends; AEP's ability to develop and execute a strategy based
on
a view regarding prices of electricity, natural gas, and other energy-related
commodities;
changes in the creditworthiness and number of participants in the
energy trading market; changes
in the financial markets, particularly those
affecting the availability of capital and AEP's ability
to refinance existing
debt at attractive rates; actions of rating agencies, including changes in
the
ratings of debt; volatility and changes in markets for electricity, natural
gas, and other
energy-related commodities; changes in utility regulation,
including membership and integration into
regional transmission structures;
accounting pronouncements periodically issued by accounting standard
-setting
bodies; the performance of AEP's pension and other postretirement benefit
plans; prices
for power that AEP generates and sells at wholesale; changes in
technology and other risks and unforeseen
events, including wars, the effects
of terrorism (including increased security costs), embargoes
and other
catastrophic events.climate hothouse
S. "The fact that AEP is projecting growth in demand for our
generation
in the range of 2 to 3 percent per year through the end of the
decade makes this expanded reduction
commitment more significant. The company is based in
Columbus, Ohio.reforest pennock
The company
will incorporate
recognition of GHG emissions and their potential cost
into its business analyses as a means to promote
internal investment
in climate-reducing activities.3 million metric tons of GHG emissions. By reporting
inventory data to EPA, partners create a lasting record of their
accomplishments.
"CCX
is unique because it involves a legally binding commitment for
tangible and verifiable reductions
for all six greenhouse gases and provides
an important policy model of a market-based system for
effectively addressing
the challenge of climate change," said Dennis Welch, AEP's senior vice
president
- environment and safety.worldwatch theorized
assistant secretary of state for oceans and international
environmental
and scientific affairs. The company has filed for regulatory approval in Ohio to build the
first
large, commercial-scale Integrated Gasification Combined Cycle (IGCC)
clean-coal power plant by 2010
, which will be designed to accommodate retrofit
of technology to capture CO2 emissions. AEP is also
one of the largest electric utilities in the United
States, with more than 5 million customers linked
to AEP's 11-state
electricity transmission and distribution grid.deforestation worldwatch
Moler, executive vice
president
, government and environmental affairs and public policy,
Exelon.
With this new commitment
, AEP expects to reduce or offset approximately 46
million metric tons of carbon dioxide (CO2) equivalent
emissions between 2003
and the end of the decade.
Chicago Climate Exchange is the world's
first and North America's only
voluntary, legally binding greenhouse emissions reduction and trading
program. Phase II is the consolidation and expansion of this
success," said Dr.5 percent).
This report made by AEP and certain of its subsidiaries contains forward-
looking statements within
the meaning of Section 21E of the Securities
Exchange Act of 1934.'
Among the questions raised
are whether human activity is responsible for global warming and to what extent, whether climate change
is detrimental and if so what measures must be taken to arrest it, and even whether climate change is
occurring at all.
kilowatt pennock
Holmstead,
EPA assistant administrator for the office of air and radiation. Although
AEP and each of its registrant subsidiaries
believe that their expectations are based on reasonable
assumptions, any such
statements may be influenced by factors that could cause actual outcomes and
results to be materially different from those projected.worldwatch landsat
C. Nuclear generation constitutes the
majority
of the company's generating capacity and is the main reason
for its low carbon emission rates.
"We are delighted to see Exelon Corporation not only acknowledging
the science of climate change,
but also working to reduce their
emissions. Partners set a corporate-wide GHG reduction goal
and
inventory their emissions to measure progress.
As a founding member of CCX, AEP committed in
2003 to reduce or offset its
greenhouse gas emissions by 1 percent in 2003, 2 percent in 2004, 3
percent in
2005 and 4 percent in 2006 below a baseline average of 1998 to 2001 emission
levels
.25 percent in 2007, 4.
Beyond CO2, AEP has made significant reductions in its emissions of SF6
,
an extremely potent greenhouse gas used in transmission equipment. The company
reduced leakage
of SF6 from 19,778 pounds in 1999 (a leakage rate of 10
percent) to only 1,962 pounds in 2004 (a
leakage rate of 0.hothouse theorized
Environmental Protection Agency's (EPA) Climate Leaders program.
Climate Leaders
is a voluntary EPA industry-government partnership
that works with companies to develop long-term
, comprehensive climate
change strategies.5 percent in 2008, 5 percent in 2009 and 6 percent in
2010
).gasses reverses
The Coalition for Environmentally
Responsible Economies (CERES) ranked Exelon 93rd on a list of
100
utilities in terms of CO2 emissions intensity from all generating
sources (on a scale with
one being the most emissions and 100 the
least emissions) and 47th in terms of total tons of CO2
emissions
based on 2002 data. The Pew Center is led by Eileen Claussen, the
former U.
AEP
already has made efficiency improvements on its current generating
fleet, retired inefficient gas
-fired generation, enhanced the performance of
its nuclear generation and expanded its use of renewable
generation.
Going forward, AEP is focused on developing and deploying new technology
that
will reduce the greenhouse gas emissions of future coal-based power
generation.unfccc gasses
To achieve its
goal, Exelon will pursue a portfolio of actions.
In addition, the company has already ceased operations
at several of
its older, less efficient fossil fuel plants, including Mystic 4-6 and
Delaware
7-8.2 million customers and more than $14
billion in annual revenues. A second 600-megawatt IGCC
plant is
under consideration by AEP for West Virginia, Ohio or Kentucky.Sites in this category cover
global warming and cooling, sea level and ice pack changes, desertification, and all general discussion
on shifts in the earth's climatic zones, particularly as theorized to result from human emissions of
carbon dioxide, methane, and other 'greenhouse gases.
drastic reforest
reforest ipcc
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