ProcureAM

Government likes to wait until crisis to act. That risks being a disaster for the electric grid as it faces 4 simultaneous challenges: growing load, more intermittent resource, need to lower emissions, and pressure on rates. The grid is showing cracks on reliability and meeting demand today. The only way to solve the challenge is to build a lot of generation and transmission. But constraints on permitting and siting restrict that pace. It takes 2-4 years to add most generation and up to 8 years to build transmission. We need to change the trajectory of development starting now to avoid risk of the grid breaking later this decade. It's why federal permitting reform this year is so important. Bipartisan talks have resulted in the framework of a good bill. The challenge is whether Congress can legislate before a crisis emerges in an area that is increasingly political. It better.