Darn (?), the Price of Electricity is Dropping
Let’s go back a month.
Rising world energy prices, spurred by demand from India and China, will make wind energy off Rhode Island’s shores a viable economic option, Governor Chafee told a group of Washington County town planners and officials Thursday night.
Fast forward to today’s ProJo.
On Thursday, the state Public Utilities Commission unanimously approved an across-the-board rate decrease for National Grid’s 482,000 customers that will go into effect April 1.
For residential customers, the standard offer rate — or the price of power without any surcharges factored in — will plummet 26 percent, from 9.4 cents per kilowatt hour to 6.9 cents.
Oops. The Deepwater Wind project just got even more unviable.
Of course, Governor Chafee is not the only person misguidedly looking for such rate increases, whether for power or at the gas pump. Advocates acknowledge that green fuel sources only “work” if fossil fuel sources achieve a certain quite elevated price point.
In the real world, far from being quietly crestfallen at the announcement yesterday from National Grid, most people will be only too happy to funnel the savings, however modest, from lower power costs to savings, other household bills or frivolities; i.e., to more productive uses.
Funny how what’s good for consumers is bad for green energy. Isn’t that a major red flag about the wisdom and practicality of this (heavy quotes) “industry”?