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Capacity and conservation pivotal to solving Maryland’s energy crisis

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Greater Baltimore Committee feature website story

Maryland faces a growing energy crisis, GBC leaders warned at the organization’s annual meeting on May 7.

The state’s power infrastructure is aging and demand for electricity in Maryland is increasing eight times faster than its generating capacity. Maryland currently imports more than 25 percent of electricity sold to customers in the state, according to Maryland Public Service Commission data.

Meanwhile, stricter federal and state regulations are causing energy providers to consider closing some of the state’s older, coal-fired plants. The Healthy Air Act passed during Maryland’s 2006 legislative session establishes more stringent rules on greenhouse gas emissions.

If the owners decide to keep the older facilities running, the Maryland Public Service Commission estimates it would require more than $2 billion in capital improvements. Unfortunately, most or all of these costs may ultimately be passed on to consumers in the generation price of electricity.

However, the PSC predicts owners of at least two Maryland coal-fired power plants will weigh whether it is possible – or worthwhile – to install the necessary equipment needed to comply with the new regulations. Currently, coal plants in Maryland generate approximately 4,958 megawatts – nearly half of the state’s total energy generation, PSC data shows.

Solving Maryland’s energy crisis begins with decreasing consumption and increasing the supply of electricity throughout the state.

There needs to be more aggressive public awareness to educate consumers and businesses about using energy efficiently. The state must work with the business community to pursue practical and effective energy conservation strategies and develop more incentives to encourage residents to use energy during off-peak hours.

Maryland also needs to enact policies that promote upgrading the electricity infrastructure for generation, transmission, distribution and environmental compliance. The state must add new transmission infrastructure by 2011 to increase its electricity importing capacity, as well as adopt a strategic plan that includes construction of new efficient, environmentally compliant power plants.

Maryland faces a growing energy crisis, GBC leaders warned at the organization’s annual meeting on May 7.

The state’s power infrastructure is aging and demand for electricity in Maryland is increasing eight times faster than its generating capacity. Maryland currently imports more than 25 percent of electricity sold to customers in the state, according to Maryland Public Service Commission data.

Meanwhile, stricter federal and state regulations are causing energy providers to consider closing some of the state’s older, coal-fired plants. The Healthy Air Act passed during Maryland’s 2006 legislative session establishes more stringent rules on greenhouse gas emissions.

If the owners decide to keep the older facilities running, the Maryland Public Service Commission estimates it would require more than $2 billion in capital improvements. Unfortunately, most or all of these costs may ultimately be passed on to consumers in the generation price of electricity.

However, the PSC predicts owners of at least two Maryland coal-fired power plants will weigh whether it is possible – or worthwhile – to install the necessary equipment needed to comply with the new regulations. Currently, coal plants in Maryland generate approximately 4,958 megawatts – nearly half of the state’s total energy generation, PSC data shows.

Solving Maryland’s energy crisis begins with decreasing consumption and increasing the supply of electricity throughout the state.

There needs to be more aggressive public awareness to educate consumers and businesses about using energy efficiently. The state must work with the business community to pursue practical and effective energy conservation strategies and develop more incentives to encourage residents to use energy during off-peak hours.

Maryland also needs to enact policies that promote upgrading the electricity infrastructure for generation, transmission, distribution and environmental compliance. The state must add new transmission infrastructure by 2011 to increase its electricity importing capacity, as well as adopt a strategic plan that includes construction of new efficient, environmentally compliant power plants.

Bioscience story pitch to Corridor, Inc.

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Greater Baltimore Committee regional media pitch (2007)

Maryland’s young bioscience industry is growing up. In the past 10 years, the number of bioscience companies in Maryland has grown from 218 to 407 and private bioscience employment grew from 14,000 to 23,000.

Venture capital for biotechnology is growing too. According to a report by PricewaterhouseCoopers, Thomson Financial and the National Venture Capital Association, in 2007, 180 Washington and Baltimore companies received nearly $1.3 billion in venture capital – making this region the nation’s fifth fastest-growing area for venture capital funding in the last decade.

But, despite the presence of a few large companies such as MedImmune, BD Diagnostic Systems, and Martek, Maryland’s bioscience industry is still mostly small firms in earlier stages of growth that are not yet turning a profit. Two thirds employ less than 10 people.

And growth is what venture capitalists are looking for. Many investors are reluctant to pour money into early stage, unproven research. However, without adequate funding small bioscience firms cannot convert their research into later stages of development, and ultimately, a potentially life-saving drug or treatment.

Although venture capital in the region has grown exponentially, the Maryland bioscience industry has yet to see major investment from global venture partners like New Enterprise Associates (NEA). Aside from a handful of success stories, a majority of small bioscience firms are often overlooked as viable investments.

It’s the new bioscience companies that are taking all the risks. These researchers put their careers – and personal finances – on the line, leaving the security of a top-rated research university, in a hope that their gamble will pay off.

The state and private sector needs to offer support to these companies, including tax incentives, seed and venture capital, access to patents, and business mentors.

If you would like more information on the importance of venture capital funding to small bioscience firms in the area, or on bioscience public policies the GBC supports, I can set up an interview with our president and CEO, Donald Fry.

Donald C. Fry is president of the Greater Baltimore Committee, an organization of business and civic leaders in the region that supports efforts to strengthen the region’s bioscience industry.

WYPR Commentary: Maryland transportation – Moving beyond the training wheels

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Greater Baltimore Committee WYPR radio commentary (2008)

Transit oriented development is a great idea. The concept is to build residential, office, retail, and entertainment facilities around mass transit stations. The benefits are in coupling economic growth with a reduction in traffic congestion and greenhouse gas emissions.

The Maryland Department of Transportation has several projects in the pipeline. The one-billion-dollar Owings Mills Town Center will include more than a million square feet of office space, a public library and a community college. In Baltimore, the City’s State Center plans to connect the nine adjacent neighborhoods to the light rail, metro, Amtrak and MARC lines.

But before we get too optimistic about these projects, though, let’s keep in mind that Baltimore and Maryland lack one very important component: a mature transportation infrastructure. For transit oriented development to be successful, it has to complement an established system that provides convenient travel for its commuters and residents.

Unfortunately, that kind of transit system doesn’t exist in the Baltimore area.

To make matters worse, the Maryland Senate Budget & Taxation Committee is looking at replacing the ill-conceived computer services tax with a new bill that removes $50 million from the state’s Transportation Trust Fund – money that is critical to future transportation projects.

At the federal level, funding for transportation is also waning. The recent Bush administration’s short-sighted decision to back away from $900 million in funding for the Dulles Metro Rail project signals that our federal government doesn’t see the nation’s failing transportation system as a top priority.

It’s hard for the business community to support ventures like the Owings Mills Town Center and Baltimore City State Center, when we’ve seen so little progress on the most elementary transportation concerns like integrating our region’s only two rail transit lines.

The city and state need to commit more time and money to addressing Maryland’s basic transportation needs. Only then can they expect to see major involvement and investment by the private sector in these “vanity” concepts.

Transit oriented development can’t be truly effective until Baltimore has a transit system capable of supporting it. In transportation and development, the city and state should stop putting the proverbial “cart before the horse.”

St. Paul Travelers pitch on musical concert insurance

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Imre Communications firm client pitch to national magazines (2004)

Thanks for taking the time to speak at the recent PRSA Annual Chesapeake Conference. I enjoyed hearing your Top 10 list of good PR… I hope I’m following the rules!

I’d like to pass along a story idea…

In an annual rock concert safety survey of 31 concerts and festivals worldwide, at least 20 people died and over 4,567 were injured. The 2002 survey, conducted by Crowd Management Strategies, also recorded over 2,683 arrests/citations and more than $542,000 in property damage.

In addition, the survey found rap concerts to be the most dangerous and rock concerts the most reckless. And with the E2 club and Great White fire tragedies in early 2003, it seems music concerts are only getting more dangerous.

More and more musical groups are increasing the special effects and intensity of concert performances to enhance viewer entertainment as they compete for audience share. And this new trend has driven up insurance costs.

A few insurance companies understand this difficult situation. One such resource is St. Paul Travelers (with one of its largest branches in Baltimore). A leader in the entertainment insurance industry, the company services thousands of well-known musical artists.

Jon Paulsen, chief underwriting officer and head of the Entertainment business unit at St. Paul Travelers, is one of those behind the scenes experts who assesses the risks associated with these productions and at times make recommendations to increase safety. He can offer suggestions for rock acts, business managers, and give an inside look at how these complicated and sometimes dangerous shows are insured.

Please let me know if you are interested in talking to Jon or learning more.

St. Paul Travelers insurance pitch on employee theft

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Imre Communications firm client pitch to national financial magazines (2004)

Did you know that employee dishonesty has gotten worse, not better? Over $660 billion is lost to employee theft, according to the Association of Certified Fraud Examiners (ACFE) 2004 report on Occupational Fraud and Abuse claims. That’s nearly a ten percent increase – or $60 billion – from 2002.

And contrary to conventional wisdom, the CEO may be more of a threat than the guy stocking the shelves. While executives only account for one in four thefts, the 2004 ACFE report found companies’ losses from owners and executives to be more than 14 times as high as employees.

Would you be interested in a byline article about how a company or organization can detect and prepare for a six percent loss in annual revenues due to employee theft?

Cary Meiners, an expert in Financial and Professional Services at St. Paul Travelers, has identified five ‘red flags,’ which can lead to increased employee dishonesty. They are:

  • Fast growth – leads to a lack of control as companies create multiple locations and satellite offices.
  • Mergers and Acquisitions – causes discrepancies with internal controls between the merging companies.
  • Use of outside vendors – can lead to improper billing and sometimes fictitious vendors.
  • High value inventory – higher priced retail entices employees to steal.
  • Travel – padded expenses, such as phony dinners and cab rides.

Cary Meiners can author an article or if you’d like to interview him for one, we can arrange that as well. He can discuss details about each of these ‘red flags’ and discuss risk mitigation. Please let me know if you are interested. Thanks.