This July 2009 paper by ICF International highlights The American Clean Energy and Security Act of 2009, more commonly known as the Waxman-Markey bill, which has been passed the U.S. House of Representatives and is now being taken up in the U.S. Senate. While some provisions may change before it’s signed into law, the basic provisions are likely to remain and there is no doubt that it represents the most sweeping change to hit the power sector - perhaps ever. The paper discusses the challenges posed by the legislation and how a corporate compliance strategy can help companies prepare.