NEW YORK (February 21, 2024) — Edison Electric Institute (EEI) President and CEO Dan Brouillette and other members of EEI’s executive leadership team on Tuesday briefed Wall Street analysts, bankers, investors, and other industry stakeholders on the state of the U.S. electric power industry.
“There has never been a more exciting time to be a part of the electric power industry. What is happening today is truly transformational,” said Brouillette during the presentation at the Nasdaq MarketSite. “This industry is key to the U.S. economy. It makes up roughly five percent of GDP, and it’s important to remember that it’s not just any five percent. It’s the first five percent. The U.S. economy and the world economy depend on the provision of electricity for so much of our lives.”
Legislation such as the Bipartisan Infrastructure Law and the clean energy tax package in the Inflation Reduction Act – both of which EEI strongly supported – are helping to spur the once-in-a-generation infrastructure investments needed to support rising demand for electricity. EEI and its member companies continue to work with relevant stakeholders in government and the private sector to ensure these statutes are implemented in a manner that maximizes potential benefits to customers and to U.S. economic growth.
During the presentation, EEI leadership stressed that, despite the siting and permitting provisions included in the 2023 Fiscal Responsibility Act, it is still too difficult, too costly, and too time-consuming to develop and build critical and necessary energy infrastructure projects of all kinds. Additionally, EEI leadership emphasized the continued need to prioritize energy security initiatives that are vital to ensuring the systems that supply electricity to homes, businesses, hospitals, and other critical and essential services across the country are resilient to threats both natural and man-made.
“What we do in the next several years as an organization and as an industry will ultimately determine our country’s path for decades to come. And, thanks to the ongoing leadership of EEI’s member companies, we can chart a course for an American energy future that is secure, resilient, clean, and affordable,” concluded Brouillette.
Visit EEI’s website to view Tuesday's presentation as well as a recording of the event.
