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12/22/2020

Statement on Transportation Climate Initiative Program Benefits and Consumer Price Protections

 

(HARTFORD, CT) – Katie Dykes, Commissioner of the Department of Energy and Environmental Protection, today released the following statement regarding estimates of the regional environmental, health, and economic benefits and costs of the Transportation and Climate Initiative Program (TCI-P), a historic program to reduce carbon pollution by 26% from transportation sources and invest $1 billion in Connecticut by 2032.

“The need for action now on climate change is clear and urgent. Misinformation by climate change deniers must be addressed to turn us away from the growing costs of inaction. TCI-P represents a smart, carefully designed program that efficiently delivers real reductions in pollution from the largest source of greenhouse gases, and substantial re-investments in healthier communities and infrastructure,” said DEEP Commissioner Katie Dykes. “The program is designed with a focus on consumer protection, and given future uncertainties, includes elements like a cost containment reserve to help ensure that any impact on gas prices would not exceed $0.09 per gallon in 2023. Expected impacts are nearly half that, at $0.05 per gallon, well within the range of historical gas price variability, or about the difference in prices between two gas stations on the same street.”

Dykes continued, “Claims of higher gas price impacts are coming from those who see no reason to address the crisis of our time which will impact our children and grandchildren. We all know that the residents of our state value smart policies aimed at reducing greenhouse gas emissions, and won’t fall for erroneous commentary derived from outdated analysis, and politically disingenuous critics.”

 

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