Geothermal Resources Council Policy Committee Announces Opposition to Nevada Ballot Question 3

LAS VEGAS, NEVADA, August 29, 2018 — The Geothermal Resources Council Policy Committee has voted unanimously to oppose Nevada Ballot Question 3, which, if passed, would direct the Nevada Legislature to “establish an open, competitive retail electric energy market” no later than July 1, 2023. The Committee’s vote was based on its view that Question 3 would disrupt Nevada’s progress on renewable energy by paralyzing future clean energy projects across the state and forcing the divestiture of existing renewable energy assets and assignment of long-term contracts to new owners.

The Geothermal Resources Council (GRC) is a non-profit educational association, which serves as a focal point for continuing professional development for its nearly 1,200 members through its outreach, information transfer and education services. As a result of its recent merger with the Geothermal Energy Association, the GRC also represents major geothermal developers, and its new Policy Committee advocates for public policies that will promote the development and utilization of geothermal resources and provides a forum for the industry to discuss geothermal challenges and opportunities.

Geothermal energy is a unique renewable resource that provides voltage regulation, flexible capacity and inertia, making the electrical grid reliable and stable. Geothermal enables greater amounts of wind and solar to come online, which is instrumental to achieving higher renewable requirements.

Nevada is ranked second in the U.S. for geothermal development, and the GRC wants to see the state increase its use of this low-cost, 24/7 baseload resource.