financetom
Business
financetom
/
Business
/
Natural gas needed in California's clean energy transition, Edison International CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Natural gas needed in California's clean energy transition, Edison International CEO says
Apr 16, 2024 12:07 PM

NEW YORK, April 16 - Natural gas will still be needed

for electricity generation in California's clean energy

transition, Edison International ( EIX ) chief Pedro Pizarro

said on Tuesday at an industry conference.

Natural gas is the cheapest and most reliable power

generating source in the most populous U.S. state, said Pizarro.

Edison International ( EIX ) is the parent company of electric

utility Southern California Edison.

WHY IT'S IMPORTANT

The role of natural gas in future power generation has been

under debate by U.S. states racing to dramatically reduce carbon

emissions, primarily by replacing fossil-fired electricity

generation with renewable sources like wind and solar, within

the next two decades.

California has set a goal for its electric grid to reach

carbon neutrality by 2045.

KEY QUOTE

"We see about 40% of the gas that's flowing through the

pipes today still flowing in 2045 and being offset by carbon

capture, carbon sequestration and direct air capture," Pizarro

said at the BNEF Summit in New York.

CONTEXT

Unlike wind and solar, natural gas emissions contribute to

global warming, but the fossil fuel results in fewer carbon

emissions than coal and crude oil.

BY THE NUMBERS

About 40 percent of U.S. electricity is powered by natural

gas.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Paramount to lay off 3.5% of US staff in latest job cut, memo shows
Paramount to lay off 3.5% of US staff in latest job cut, memo shows
Jun 10, 2025
(Reuters) -Paramount Global ( PARAA ) is laying off 3.5% of its U.S. staff in the latest round of job cuts as the company grapples with a decline in cable TV subscribers, according to an internal memo seen by Reuters. The layoff was communicated to its staff on Tuesday morning and it could affect some non-U.S. workforce over time, the...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Top Premarket Gainers
Top Premarket Gainers
Jun 10, 2025
08:15 AM EDT, 06/10/2025 (MT Newswires) -- Klotho Neurosciences ( KLTO ) shares were up 50% in recent Tuesday premarket activity, after the company said Monday that initial findings in preclinical studies showed the potential of elevating Klotho gene expression to reduce age-related organ degeneration. Insmed ( INSM ) shares rose more than 23% after the biopharmaceutical company said its...
BRIEF-PHINIA Announces Definitive Agreement To Acquire SEM
BRIEF-PHINIA Announces Definitive Agreement To Acquire SEM
Jun 10, 2025
June 10 (Reuters) - Phinia Inc ( PHIN ): * ENTERED DEFINITIVE AGREEMENT FOR PHINIA TO ACQUIRE SEM * CO WILL PAY $47 MILLION (452 MILLION SWEDISH KRONA) FOR ACQUISITION OF SEM Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved