Proposed tax break hopes to encourage green power usage
Even though the state is facing a $900 million budget hole in the upcoming fiscal year, it's important for Oklahoma to offer tax credits to consider alternative fuel sources in the state, House Speaker Chris Benge said.
The two measures are part of Benge's effort to develop an energy plan for the state to lessen dependence on foreign oil, which could be used as a model for a national energy plan. Both go to the full House after winning passage by the House Appropriations and Budget Committee.
House Bill 1948 would provide a 5 percent tax credit for residents and businesses who would buy a geothermal heat pump system. House Bill 1949 is intended to double the number of publicly available compressed natural gas fueling stations and give Oklahomans tax credits to help them make a transition to alternative fuel vehicles.
Benge, R-Tulsa, said other energy-related measures to be taken up this session deal with solar, nuclear and wind power.
It's estimated HB 1948 would cost the state about $850,000 a year while no estimate has determined yet how much HB 1949 would cost, Benge said.
Benge authored HB 1949 last summer when gasoline prices were about $4 a gallon in the state. Gasoline prices have dropped more than half since then, but Benge said it's still important for Oklahoma to push an energy plan.
"Once the economy picks back up, we're expecting the gasoline prices to go up again because that demand's going to be there," he said.
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UK Emergency energy plan not going ahead
LONDON - National Grid has decided not to activate a scheme on Tuesday to help the UK avoid power cuts after being poised to do so.
It would have seen some households offered discounts on their electricity bills if they cut peak-time use.
National Grid had been ready to trigger the scheme following a warning that Britain's energy supplies were looking tighter than usual this week.
However, it decided that the measure was not required.
Alerts are sent out automatically when expected supplies drop below a certain level. But they do not mean that blackouts are likely, or that the situation is critical.
National Grid…
