CNSNews tells us that Rhode Island’s PUC bypassed an opportunity to purchase power from a proposed wind farm because it would be too expensive, 3x the cost of other energy sources. This is part of the core problem with “green” technology, it’s too inefficient and too expensive. With the Democrat’s socialist agenda on the rise, adapting such technologies now without giving them time to develop (read: cap-and-trade) would only seek to further the burden American taxpayers in a time when our economy is weakened and our Socialist overlords have just burdened us with European-style health care.
Too Expensive: Wind Power Contract Rejected by R.I. Public Utilities Commission
Wednesday, March 31, 2010
By Susan Jones, Senior Editor
(CNSNews.com) – The R.I. Public Utilities Commission on Tuesday rejected a contract that would have allowed Rhode Island’s largest electric utility to buy power from a wind farm that’s planned for the waters off the R.I. coast. It would have been the first project of its kind in the United States, the Providence Journal reported.
The three-member commission voted unanimously against the power-purchase agreement, saying the price of power agreed to by the two sides was too high and that the overall deal was not “commercially reasonable.”
According to the Providence Journal, “The crux of the proposed agreement was a sale price of 24.4 cents per kilowatt hour, nearly three times the price National Grid pays for energy from fossil-fuel fired power plants and nuclear facilities. Over the 20-year contract, the price would have escalated by 3.5 percent annually, so, by the final year, it would have been 48.6 cents per kilowatt hour. Combined with a 2.75-percent markup on clean energy that National Grid was allowed by Rhode Island law, it would have meant hundreds of millions of dollars in additional costs to the state’s 480,000 ratepayers over two decades.”