General Electric (NYSE: GE) and Philips Electronics (NYSE: PHG) could be two big winners if the revised Energy Bill passes the U.S. House and is signed, as expected, by President Bush.
The bill, which moved to the House Tuesday after passage by the U.S. Senate, phases-out the use of incandescent light bulbs in the U.S., Bloomberg News reported Tuesday.
The primary replacement bulb technology, at least for next half-decade, would be fluorescent light bulbs, which typically use only 25-30% of the energy of comparable incandescent bulbs. Philips, the largest light bulb maker in the world with sector leadership in Europe, is expected to be a major beneficiary of the law change, along with No. 2 bulb maker General Electric, the leader in U.S. light bulb sales.
A spokesman for President Bush said the president will sign the legislation. Opposed to the original bill, President Bush reversed his stance after lawmakers revised the bill and dropped both a tax increase for oil and gas companies and a requirement that some utilities get 15% of their power from renewable sources.
The bill, which moved to the House Tuesday after passage by the U.S. Senate, phases-out the use of incandescent light bulbs in the U.S., Bloomberg News reported Tuesday.
The primary replacement bulb technology, at least for next half-decade, would be fluorescent light bulbs, which typically use only 25-30% of the energy of comparable incandescent bulbs. Philips, the largest light bulb maker in the world with sector leadership in Europe, is expected to be a major beneficiary of the law change, along with No. 2 bulb maker General Electric, the leader in U.S. light bulb sales.
A spokesman for President Bush said the president will sign the legislation. Opposed to the original bill, President Bush reversed his stance after lawmakers revised the bill and dropped both a tax increase for oil and gas companies and a requirement that some utilities get 15% of their power from renewable sources.
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