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United States

Members of US Congress support PTC end

UNITED STATES: Republican congressman Mike Pompeo has written a letter, signed by 53 other members, to the House leadership calling for the end of the production tax credit (PTC).

54 members of Congress signed the letter, written by Republican Mike Pompeo
54 members of Congress signed the letter, written by Republican Mike Pompeo

In the letter, Pompeo argues that the wind industry is mature enough to compete in the US energy sector without the subsidised support from the PTC.

Pompeo, who sits on the House Committee on Energy and Commerce, said in the letter that a one-year extension to the PTC would "cost American taxpayers over $13.35 billion" and had created "significant price distortions" in electricity prices.

The PTC is part of the Expire Act currently being negotiated in the US legislative system. In May, the US Senate blocked the act, which would extend the PTC to projects that start construction before the end of 2015. The previous PTC expired at the end of 2013. Pompeo is hoping the delay will force an end to the legislation.

Last week, the US Internal Revenue Service clarified the rules about how wind projects qualify for the incentive. Developers can claim the $0.023/kWh credit if they had spent 5% of the total project costs or had started physical work at the site.

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