Energy Conservation Act of 1992
WHAT YOU SHOULD KNOW
This Energy Act, unlike any previous Act, did not enforce or implement anything directly. Mostly, it amended other Energy Acts. It was signed by George W. Bush in 1992, when an energy crisis occurred. Luckily the U.S. was spared the full impact of the energy crisis. The U.S. had fuel from Middle East imported. This Act was created to prevent more energy crises and amend previous Energy Acts that had failed.
This Act amended the National Energy Conservation Policy Act of 1978 by:
1. Establishing energy management goals.
2. Letting people pay less taxes if they own an electric car.
3. Making sure there was a decrease in how much energy federal buildings use.
It also amended the Public Utility Holding Company Act of 1935 by creating a new category of power with the Exempt Wholesale Generators (EWG's). Companies that controlled 10%+ of a public utility no longer had the sole opportunity to make a profit. The EWG's could make and sell electricity without having to abide to PUHCA regulations.
The ECAct of 1992 had three main missions to accomplish:
1. Lessen U.S. dependence on U.S. oil.
2. Provide incentives for renewable energy.
3. Promote energy efficiency and conservation.
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