Deepwater Wind: That Whirring Sound is Dollars Flying out of Our Wallets
Kudos to WPRI’s Tim White and Ted Nesi for obtaining and releasing (against the will of National Grid) the cost to Rhode Island state and local government of the artificially jacked electric rates necessitated by the first phase (the experimental stage) of the Deepwater wind farm.
Keep in mind that this is the ADDITIONAL cost ONLY for state and local governments. It does NOT include the increases that will show up in the bills of individual rate payers – hundreds of thousands of residential households – or businesses. The latter will certainly not – this is laughably unlikely so why even bring it up? – simply pass that increase on to their customers, will they …?
Deepwater Wind’s initial project will raise state and local governments’ electric bills by a combined $1.5 million in its first year, according to documents reviewed by the Target 12 Investigators.
Municipal electric bills will increase by a total of $1 million while state government’s bill will rise by $476,630, according to an estimate commissioned by National Grid from Energy Security Analysis Inc. The cost would rise by 3.5 percent every year for the next two decades.