HARRISBURG – State Sen. Gene Yaw, who chairs the Senate Environmental Resources and Energy Committee, plans to soon introduce legislation to establish a PA Baseload Energy Development Fund. The fund would provide low-interest grants and loans to finance the construction, maintenance, modernization, and operation of electric generation facilities. PA alone supplies nearly 25% of baseload electric generation capacity to the grid. Yaw added that the fund can help supply the grid with reliable, cost-effective energy, as well as the infrastructure and workforce to maintain it. The Energy Fund will be modeled after the Texas Energy Development Fund, which has been successful in attracting baseload electric generation capacity. Initially funded at $5 billion, the Texas fund was increased to $10 billion due to overwhelming response.
SEN. GENE YAW