Standing Up for Meaningful Energy Legislation

Maria's Monday Memo

Senator Maria Cantwell's Weekly Memo                               
Monday, August 4, 2003

Standing Up for Meaningful Energy Legislation

Last week, the Senate passed national energy legislation. I voted against the bill because it turns back the clock on consumer protections and its flawed deregulation of electricity markets threatens a repeat of the western energy crisis.

Just last week, Washington state workers got another harsh reminder of how energy rates relate to jobs. Alcoa, the world's leading producer of aluminum, announced that it expects to close its smelter in Ferndale next month because rising power rates are driving them out of operation. This would put about 700 workers out of work.

By repealing the Public Utilities Holding Company Act without putting adequate new safeguards in place, the bill passed by the Senate fails to ban market manipulation tactics used by Enron and other to cheat ratepayers. In light of the western energy crisis and Enron's collapse, I sponsored an amendment to the bill to add critical consumer protections to the bill's electricity provisions. While my amendment was supported by a majority of Democrats and several Republicans, it narrowly failed on a 48-50 vote. Nevertheless, I will continue to work to ensure that Congress institutes the necessary measures to prevent future electricity crises and market manipulations.