The electricity associations, meeting for the eighth time, stressed the need to attain “compatibility between environment and economy” through adoption of long-term, economy-wide approaches. “Voluntary actions to reduce or avoid emissions of greenhouse gases provide a more efficient base for measures to cope with climate change in a competitive market in terms of speed, flexibility and effectiveness,” participants said in a joint statement. “In general, a market-based approach, rather than a regulation-based approach, will provide a more effective solution,” the groups added.

EEI president Tom Kuhn, said of the move: “The centerpiece of any effective policy response must be development and global deployment of new greenhouse gas-reducing technologies that fortify—rather than sacrifice—economic growth.”