The Obama administration plans to solicit ideas from states on how to cut greenhouse-gas emissions as it seeks to impose standards for carbon dioxide on new and existing electric-power plants, according to people briefed on the plans.
Jim Rogers is sitting in his sleek, modern office on the 48th floor of the Duke Energy Center in Charlotte, North Carolina, explaining how, after a merger capped off by an 11th-hour management coup, he remains chief executive officer of the largest electric utility in the U.S. He wonders aloud whether to enliven the account with a metaphor about soured romance.
For much of 2006 and into 2007, Environmental Defense Fund had been battling to stop TXU Corp., Texas’s largest power producer, from building 11 coal-fired plants. The barrage of lawsuits, town-hall meetings and online community groups was also becoming a major headache for KKR & Co. , TPG Capital and Goldman Sachs Group Inc.’s private-equity arm, which were planning the world’s biggest leveraged buyout of the utility company.