US Senate Majority Leader Harry Reid (D-Nev) plans to introduce legislation for a carbon trading system covering only electric utilities for debate on the Senate floor in late July.
The legislation is to be combined with an energy bill sponsored by his colleague Jeff Bingaman (D-New Mexico).
The cap-and-trade programme for utilities, outlined in a discussion draft also being circulated by Bingaman, would reduce greenhouse gas (GHG) emissions by 3% in 2012, 17% in 2020 and 42% in 2030, relative to 2005 levels.
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