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Stock impact report

Biden admin issues energy efficiency restrictions on key power grid technology [FOX News]

Cleveland-Cliffs Inc. (CLF) 
Last cleveland-cliffs inc. earnings: 2/20 07:00 am Check Earnings Report
Company Research Source: FOX News
The Biden administration finalized energy efficiency regulations targeting distribution transformers, which are vital for managing the flow of electricity from power stations to consumers. In an announcement Thursday morning, the Department of Energy said the regulations would help accelerate the development of green energy nationwide and are part of the Biden administration's "commitment to tackling the climate crisis." Overall, the agency projected that requiring more efficient transformers will save utilities and businesses $824 million a year in electricity costs. "These standards are going to make America's power grid more resilient," Energy Secretary Jennifer Granholm told reporters. "They'll support good-paying, high-quality manufacturing jobs, and they'll help us deploy more affordable and reliable and clean electricity more quickly across the country." "It's going to provide critical, long-term certainty for domestic manufacturing and production investments – it's goin Show less Read more
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