10/17/2021

News

Power Bills Squeeze Italian Business

Business associations have recently become so vocal about power costs that Italy’s economic development ministry is scrambling for new ideas. Among them: a proposal to issue bonds to help pay for the 12 billion euros a year that Italy spends on subsidies to the renewable energy industry and that ends up in everyone’s energy bill.

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Tepid Job Growth Supports Fed’s Cautious Stance

U.S. employers added far fewer workers than expected in September, suggesting a loss of momentum in the economy that will likely add to the Federal Reserve’s caution in deciding when to trim its monthly bond purchases.

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California Solar Policy Costing All Utility Customers: Report

“California’s non-solar homeowners are paying a growing share of maintaining the power grid under a controversial state policy, while ratepayers with solar rooftops are paying less, a report commissioned by the state’s utility regulator said on Thursday.

The report, which was issued by the California Public Utilities Commission but performed by an outside research firm, forecast that in 2020, the policy of “”net metering”” would cost $1.1 billion a year. It will shift about $359 million in costs a year from customers with solar panels to other ratepayers. Residential customers who have no solar panels would bear about $287 million of those costs.”

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Consumer Sentiment Retreats from 6-year High

U.S. consumer sentiment retreated in August from last month’s six-year high, though Americans were slightly more upbeat in their outlook than earlier in the month, a survey released on Friday showed.

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Angelea Merkel’s “Green Revolution” Risks Becoming a Victim of its Own Success

Seduced by generous subsidies, Germans are embracing the ambitious project with such fervor – installing solar panels on church roofs and converting sewage into heat – that instead of benefiting from a rise in green energy, they are straining under the subsidies’ cost and from surcharges.

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California Carbon Permits Auction for Less Than Expected

California’s largest greenhouse gas-emitting businesses paid $12.22 per metric tonne (1.1 tons) for the right to release carbon this year, lower than expected and down almost 13 percent from the previous sale in May, the state said on Wednesday.

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California’s Economic Growth Outpaces Job Gains

Economic growth in the Golden State from 1990 to 2011 outpaced job growth, University of California, Irvine professor David Neumark and PhD candidate Jennifer Muz showed in the study, published in the latest edition of the San Francisco Fed’s Economic Letter.

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Texas and California Spar Over Jobs and Taxes

(Reuters) – Texas Governor Rick Perry’s latest sales pitch to California businesses boils down to four words: Texas is no California.

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