Ahead on new carbon legislation proposals that would hit US power generators.

Reuters was alone for several hours on July 13 when the U.S. Senate’s two biggest backers of climate change legislation scaled back ambitions for a broad attack on greenhouse gases with a new draft bill focusing on just cutting pollution from electric power generators. The stories gave insight into how extensive the likely cap and trade legislation in the Senate might be, the details of carbon reductions utilities would have to achieve, annual offsets they could have and that manufacturers and the transportation sector were not included in the plans. The coverage also highlighted the political difficulties for the proposed legislation. Clients concerned at the impact on utility companies and interested in the potential for a US carbon market contacted us for more details.