From September 19, 2022 post
Last week, Congressman Chris Pappas (NH-01) continued his calls for continued action to lower energy costs for Granite State families, building on his previously announced Lower Energy Costs Agenda.
Pappas joined a coalition of representatives from the New England Congressional Delegations in writing to the U.S. House and Senate Appropriations Committees, urging them to include additional funding for the Low-Income Home Energy Assistance Program (LIHEAP) in the upcoming government funding package. As winter approaches, funding for LIHEAP is important for households in New Hampshire and throughout New England.
In their letter, the members noted that the prices of electricity, natural gas, and heating oil remain high, a problem particularly for regions of the country that rely on heating and cooling assistance as winter approaches, stating: “We greatly appreciate the Committee’s proposed increase for the annual appropriation for LIHEAP for Fiscal Year 2023 […] but we urge the committee to ensure that the final level of emergency funding reflects the acute needs of regions that rely on heating and cooling assistance.”
Pappas also joined a coalition of representatives in urging President Biden to take further action to lower domestic energy prices heading into the colder months by continuing to release inventory from the Strategic Petroleum Reserve (SPR) beyond October of this year, when the current release plan is slated to end, and to commit to purchases to backfill the reserve.
According to the Treasury Department, releases from the SPR contribute up to a 31-cent per gallon decrease in price for consumers at the pump.
In their letter, the members urged the administration to commit to releasing additional barrels of oil from the SPR through at least the end of the year, saying: “The continued volatility of the global and domestic markets merits this approach in order to provide stability and to ensure that gasoline and oil prices continue their downward trajectory at a time when households, particularly in the Northeast, require more energy to stay warm during the fall and winter. Turning off supply from the SPR at the end of October could be harmful to my constituents and working-class families across the country should there be a sudden increase in the cost of gasoline and heating oil during the coldest months of the year [...] To provide assurances to domestic oil and gas producers, your administration should commit to purchasing barrels to backfill the SPR. As of July, there was $121 million in the SPR Fund that could be used for this purpose and would make clear that the federal government is serious about making long-term investments in domestic energy to reduce costs for consumers and protect producers in an uncertain global market. Moreover, purchasing more barrels for the SPR will safeguard supply both now and in the future should domestic or international conditions cause a severe energy supply interruption that requires you to draw down and sell barrels.”
To read the full letter calling for supplemental LIHEAP funding, click here.
To read the full letter calling for continued SPR releases, click here.
Original source can be found here.
