On March 10, Lori Pickford of Morgan Meguire, along with a broad coalition representing large retail businesses, homebuilders, manufactures, environmental groups and utilities, met with key staff to Sen. John Sununu (R-NH) in an effort to garner support in the U.S. Senate to pass an energy tax incentives tax bill (see details above). Sununu is a new member of the Senate Finance Committee, and has voted against the energy tax title, most recently as part of the economic stimulus bill.
Generally, the group highlighted that these incentives will not only help address global warning concerns but also create new, high-wage American jobs and spur economic growth. Specifically, Pickford highlighted the Clean Renewable Energy Bond (CREB) provisions, and informed staff that the New Hampshire Electric Cooperative (NHEC) was awarded CREB allocation for two projects: 12 MW biomass facilities and 30 MW wind projects. Unfortunately, the projects did not move forward because the drawdown of the bonds and payback schedules required by the IRS' CREB rules could not be met, so NHEC forfeited its CREB allocation. Pickford, however, made clear that the technical changes made to the CREB program in the House-passed energy tax bill (H.R. 5351) would fix some of the problems NHEC was confronted with, and that the additional $2 billion in CREB funding would help them to move forward with additional renewable projects.
Staff asked for additional details on the proposed projects by NHEC and for a copy of the House CREB language. He also said Sen. Sununu was supportive of the clean energy tax extenders, but not the offsets to pay for them that target the oil and gas sectors.