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    Biden declares emergency due to possible electricity shortage in the U.S.

    June 7, 2022 - CE Noticias Financieras


      Caracas - U.S. President Joe Biden has declared an emergency due to the possible electricity shortage in the North American country, according to a statement released Monday by the White House.

      "Multiple factors threaten the ability of the United States to provide sufficient electricity generation to meet expected customer demand," reads the text, after detailing that among them are the disruptions in energy markets caused by the current situation in Ukraine and extreme weather events exacerbated by climate change.

      In this regard, it indicates that, to ensure sufficient electricity resources, utilities and grid operators must engage in forward planning to build new capacity to meet public demand.

      Without sufficient solar modules

      It also recalls that solar power is among the fastest growing sources of new electric generation in the U.S., detailing that it will be critical to reducing dependence on fossil fuels.

      The statement notes that in recent years the U.S. has been unable to import enough solar modules to secure the solar capacity additions needed to help achieve its climate and clean energy goals, ensure grid resource adequacy and help combat rising energy prices.

      "This severe shortage of solar modules and module components has abruptly put at risk near-term solar capacity additions that might otherwise have the potential to help ensure the adequacy of electricity generation to meet customer demand," he continues."

      What does it entail?

      In this context, Biden has granted additional authority to U.S. Secretary of Commerce Gina Raimondo to take whatever actions she deems appropriate under the declared emergency.

      The measures may allow, for a limited time, the duty-free importation of certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam that are not already subject to an antidumping duty order or a countervailing duty order in effect.

      In addition, during the course of the emergency, the U.S. may temporarily extend the implementation of any action related to such imports.


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