State Senator Eugene Yaw | Pennsylvania
State Senator Eugene Yaw | Pennsylvania
State Sen. Gene Yaw (R-23), chairman of the Senate Environmental Resources and Energy Committee, announced plans to introduce legislation establishing a Pennsylvania Baseload Energy Development Fund. The proposed fund aims to provide low-interest grants and loans for financing the construction, maintenance, modernization, and operation of electric generation facilities.
“Pennsylvania alone supplies nearly 25% of baseload electric generation capacity to the grid,” Yaw stated. “We must play a more active role in incentivizing generation and addressing looming reliability challenges with market-based solutions. The Pennsylvania Baseload Energy Development Fund can help us supply the grid with reliable, cost-effective energy, as well as the infrastructure and workforce to maintain it.”
Yaw's measure is part of his ongoing efforts related to responsible energy development and ensuring the reliability of the PJM electric grid. PJM projects that 20% of its existing capacity will retire by 2030; without intervention, there may not be sufficient power to meet consumer demands.
The Energy Fund will be modeled after the Texas Energy Development Fund, which has successfully attracted baseload electric generation capacity. Initially funded at $5 billion, the Texas fund was increased to $10 billion due to overwhelming response.
For more state-related news and information, constituents can visit Senator Yaw’s website at www.SenatorGeneYaw.com or follow him on Facebook and X @SenatorGeneYaw.
Contact: Elizabeth Weitzel at 717-787-3280
Alerts Sign-up