UPW - U.S. utilities seek flexibility in meeting Biden's clean energy proposals

The U.S. power industry would comply with a proposed requirement that it eliminate carbon emissions by 2035, but it must be allowed flexibility on how to achieve the goal and the ability to miss compliance deadlines that prove unrealistic, says the Edison Electric Institute lobby group.The industry is concerned that President Biden's goal to quickly eliminate its emissions will require breakthroughs in clean energy technology that currently do not exist, such as long-duration battery storage for wind and solar power, advanced nuclear plants, and carbon capture projects.American Electric Power ([[AEP]] +0.5%), which has committed to achieving net zero emissions by 2050, calls Biden's 2035 timeline "an ambitious challenge that will require a significant acceleration of research and technological breakthroughs."ETFs: [[XLU]], [[UTG]], [[VPU]], [[BUI]], [[GUT]], [[FUTY]], [[IDU]], [[RYU]], [[FXU]], [[UPW]]The details of clean energy legislation will be crucial, Edison exec Emily Fisher tells Reuters, suggesting the group would support a plan

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U.S. utilities seek flexibility in meeting Biden's clean energy proposals