Latest news with #EnergyProgram
Bloomberg
30-06-2025
- Business
- Bloomberg
Australians Get Retirement Savings Boost From July 1
By Good morning, it's Amy in Melbourne with your Tuesday newsletter on the first day of July. We'll have the latest markets news for you, and it's a big day for the superannuation industry... Today's must-reads: • Super contributions rise • House prices climb • Household battery scheme More money will be flowing into the retirement savings accounts of Australian workers with the superannuation guarantee rising to 12% today, a key milestone for the country's A$4.1 trillion ($2.7 trillion) pension system. House prices are up for a fifth straight month, fueled by the Reserve Bank's two interest-rate cuts this year. The Home Value Index advanced 0.6% in June, with every major mainland city recording a rise. A program to encourage households to buy batteries cuts the upfront cost of installation by about 30%. The program is part of efforts to absorb excess renewable energy and curb price swings.
Yahoo
17-04-2025
- Business
- Yahoo
Louisiana Energy Efficiency Program scrapped after lengthy Public Service Commission meeting
MANY, La. (KTAL/KMSS) – Louisiana's Energy Efficiency Program is being halted after the state's Public Service Commission voted on Wednesday to do away with a program they approved less than a year ago. The vote effectively ends all state-mandated energy efficiency programs, reverting energy efficiency to a voluntary program that consumers must seek out through their power providers. Northwest Louisiana's Public Service Commissioner, Foster Campbell, voted against eliminating the program approved in late April 2024, largely because he felt the commission did not fully understand what it was voting for. 'It's four o'clock in the afternoon and everybody is arguing about this that and the other and I don't want to vote for something that I don't fully understand,' said Campbell. 'So I can't vote for this at this particular time.' Extensive solar power project unveild in N. Louisiana The Public Service Commission meeting held at Cypress Bend Resort in Many, Louisiana, lasted more than five hours. Nearly an hour was spent on discussions and testimony from the agenda item sponsored by Commissioner Mike Francis, who added the item to the agenda on Monday. In the end, the state's energy efficiency program was canceled by a 3 to 2 vote. The program focused not on energy costs, but rather on making homes and businesses more energy efficient. The program required the Public Service Commission to hold energy companies accountable with specific energy savings goals. Home and business energy efficiency improvements, including appliance upgrades, new air conditioning units, and insulation, were considered key to achieving savings goals, particularly in low-income neighborhoods. Opponents say the contracts for the program were far too expensive, and the previously used 'Quick Start' Energy Program, overseen by utility companies Cleco and SWEPCO, was a better answer. 'When we have looked at the third party administrator across the country we have found that the cost per kilowatt hour savings on those third party administrators are significantly higher than the programs that are currently in place under the utility led programs in Louisiana,' said Mark Kleehammer, General Counsel & Chief Regulatory Officer for Cleco. 'I would ask that you consider maintaining the utility-led programs. We have been doing energy efficiency for 10 years. We commented on this before that the biggest misnomer about the utility-led 'Quick Start' program is that it's a quick start. We are in year 10 of these programs, and since we've started, for CLECO power only, our budget has increased by 119%, our KW (kilowatt) savings have increased by 296%.' Those advocating for the Energy Efficiency Program to stay say it addressed the true causes of power waste. 'We are decades behind on addressing energy waste. It doesn't matter how low the rate is if we are just throwing our money out the crack around our doors and windows. The auditor also pointed out that this commission is taking steps to address high energy bills through this efficiency program,' said Logan Burke, Executive Director, Alliance for Affordable Energy. 'The rational thing to do is to address the waste. The right thing to do is to ensure that people have the tools they need. So why would we stop this effort in it's tracks?' Now that the program is canceled, the commission voted to have the state revert back to the old 'Quick Start' Energy Program until the end of 2025. A commission vote at later time will determine if the 'Quick Start' program continues beyond the end of the year. 'Quick Start' allows customers to receive cost offsets and rebates for items that improve a home's energy efficiency. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
