Utility Companies `Just Exhausted' After Defeat on Cap-and-Trade Measure

bloomberg.com — Every month over the past two years, Chief Executive Officer Ralph Izzo of the utility Public Service Enterprise Group Inc. traveled to Washington from Newark, New Jersey, to meet with more than 50 senators and advocate for climate-change legislation. His efforts may have been in vain.

Izzo is among the army of lobbyists, CEOs, and advertising experts deployed by utility companies to push the Senate to pass a cap-and-trade bill that would create a system for power companies to buy and sell pollution rights.