Daryl Donjon, CEO and President of Wayne-White Counties Electric Cooperative, said the legislation was a “potentially devastating” prospect.
“It would allow the price of CO2 emissions to be established by Wall Street rather than Main Street,” he stressed. “It is an unfair tax to the Midwest and would raise electric rates by 80 percent.”
Shimkus said those who would “get hurt the most is rural America.”
“Estimates vary as to how much cap-and-trade will end up costing consumers. But electricity prices could go up somewhere between 44 and 129 percent. Gasoline prices could go up between 61 cents and $2.53 per gallon. Natural gas prices, for home heating and in fertilizer production, will go up between 108 and 146 percent,” Shimkus predicted.
Shimkus’ opponents claim the legislation could help not only reduce energy bills, but save “Illinois households $810 per year.”
“Illinois residents don’t want scare tactics, they want solutions,” McGovern said. “Now is the time to transition to clean energy and create the thousands of jobs Illinois desperately needs.”
Others joining Shimkus during the press conference were McLeansboro Mayor Dick Deitz, Hamilton County Board chairman and Rend Lake College board member Dr. Donald Mitchell and Rend Lake College President Charley Holstein.