Reducing Energy Costs Is Crucial
Opinion
By Brooke Thomson
The 3,400 member businesses — large and small — of Associated Industries of Massachusetts are uniquely aware that we need more energy to moderate energy prices and keep our companies and our economy competitive.
For businesses, energy costs are part of everyday economic reality. That’s why AIM supports initiatives to develop new energy resources, improve interconnections, and reduce the cost of energy for customers.
Massachusetts employers pay some of the highest commercial and industrial rates in the country. These high energy costs act as a hidden tax on economic growth and prosperity.
Employers pay that tax every time they run a centrifuge in a research lab in Cambridge, turn on a computer-controlled manufacturing cell in Worcester, admit a patient for surgery in Springfield, drive a truck down the Turnpike, or welcome guests into a hotel or restaurant on Cape Cod.
It’s no secret that, when other states attempt to recruit Massachusetts companies, the cost and reliability of energy is at the top of their reasons for leaving. And at a time when competition is at an all-time high, Massachusetts literally cannot afford to have high energy costs, making our key industries less competitive.
At AIM, we understand that our geography in New England creates embedded obstacles to energy competitiveness. But that is why we know that one energy solution or source alone is not going to solve these reliability or cost problems.
To stay competitive, keep the lights on, and keep costs moderated, Massachusetts needs, as the governor stated, an “all-of-the-above” approach that enlists a range of energy generation assets, including natural gas, infrastructure and storage options, and technologies that make more efficient use of the system we have.
The development of these energy assets is particularly pressing at a moment when the industries of tomorrow — AI, quantum, electrified transportation systems, and innovative power storage solutions — are placing unprecedented demands on our electric grids.
AIM has long supported the development of new, clean sources of energy alongside the existing power generation facilities. Both are essential to keeping the lights on in our homes and to keeping our businesses humming.
The governor is right to address the full portfolio of generation options — solar, wind, nuclear, geothermal — as well as demand-side management to generate savings of $10 billion.
That $10 billion represents a significant potential benefit for companies struggling to manage surging bills for electricity and natural gas. It also represents real benefit for the people working for our companies, skilled employees who wonder whether they can afford to continue to live, work, and raise a family in Massachusetts.
The business community remains committed to working with Gov. Healey and other elected officials to find solutions to cost issues like energy and housing. We appreciate the Healey-Driscoll administration’s willingness to include the business community in the joint effort to make Massachusetts more affordable and competitive.
Brooke Thomson is president and CEO of Associated Industries of Massachusetts (AIM). This is a speech she delivered at a March 16 press conference with Gov. Maura Healey, Lt. Gov. Kim Driscoll, and other officials announcing an initiative to bring new sources of energy to Massachusetts.
