News
Category:
Impact on Economy
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Xcel plan oversold in 2000; Investigation says wind overbilling went on for years.
December 27, 2008 by Andy Vuong in The Denver Post
December 27, 2008 by Andy Vuong in The Denver Post
Xcel Energy oversold wind energy credits as far back as 2000 for a program in which customers voluntarily pay a premium for wind-generated power, according to an investigation by Colorado Public Utilities Commission staff.
A settlement is looming related to Xcel's excess collections for the Windsource program from 2005 to 2007, which was disclosed earlier this week.
Also filed under [
Tax Breaks & Subsidies|
Colorado]
Xcel overbilled for wind plan; Company balks at PUC suggestion to refund more than $1.5 million to program's funders
December 23, 2008 by Andy Vuong in Denver Post
December 23, 2008 by Andy Vuong in Denver Post
Xcel Energy overcollected more than $1.5 million from customers who voluntarily pay a premium for wind- generated electricity, according to the Colorado Public Utilities Commission staff.
From 2005 to 2007, the state's largest utility sold credits for more green power than it generated at the wind farms in its Windsource program.
Xcel knew it would have a production shortfall in the program but "failed to act".
Also filed under [
Tax Breaks & Subsidies|
Colorado]
Durango "green power" program victim of budget cuts
December 21, 2008 by Associated Press in The Denver Post
December 21, 2008 by Associated Press in The Denver Post
The city of Durango is pulling the plug on green power because of problems with green -- or money. ...The La Plata Electric Association charges 80 cents more per 100 kilowatt hours for electricity from solar and wind power. LeBlanc says that adds $45,000 to the city's annual electric bill.
Also filed under [
Colorado]
Higher electricity bills in Redding's future
December 14, 2008 by Scott Mobley in The Record Searchlight
December 14, 2008 by Scott Mobley in The Record Searchlight
The nearly 8 percent rate increase Redding Electric Utility will seek Tuesday for next year and 2010 could be just the beginning of a long, steady and rather steep cost climb for customers.
Rate forecasts through 2014 show REU imposing identical 7.84 percent increases each year while still chewing through wads of cash. ...Redding has made up for the lost hydropower, in part, by commissioning a pair of large gas-fired turbines at its plant on Clear Creek Road. The utility has also entered long-term contracts for wind and biomass power.
The wind and biomass have allowed REU to meet state renewable energy mandates. But all three power sources cost more than twice as much as hydropower, adding $10.5 million each year on average to REU's fuel tab, Hauser said.
Also filed under [
Energy Policy|
California]
Green jobs' false promise? The problem with talking about jobs-per-kilowatt hour
December 12, 2008 by Joshua Zumbrun in Forbes
December 12, 2008 by Joshua Zumbrun in Forbes
The American Wind Energy Association claims it is wind power that creates the most jobs per kilowatt hour. One oft-cited statistic is that there are 27% more jobs per kilowatt-hour from wind than from coal, and 66% more from wind than from natural gas. ..."To the extent it's true, it illustrates these technologies aren't that efficient."
A power producer typically gets paid for the power it generates. In Texas, some wind energy generators are paying to have someone take power off their hands.
Because of intense competition, the way wind tax credits work, the location of the wind farms and the fact that the wind often blows at night, wind farms in Texas are generating power they can't sell. To get rid of it, they are paying the state's main grid operator to accept it. $40 a megawatt hour is roughly the going rate.
Also filed under [
Energy Policy|
Texas]
The alternative-energy sector has run smack into a credit crisis, probably a recession as well, and almost all industry experts think the fourth quarter is going to be worse. ...The reality today is that it's more expensive to produce renewable energy than it is from traditional resources, and consumers suddenly strapped for cash will start moving away, said Jerry Taylor, a senior fellow at Cato Institute.
Even proponents are slowing the move toward alternative energy, at least for the moment.
Also filed under [
Tax Breaks & Subsidies|
USA]
Xcel Energy has asked regulators to increase the amount it can charge consumers to help recover the cost of renewable-energy generation. ...If approved, the increase would take effect Jan. 1 and increase typical residential bills by 33 cents a month.
Also filed under [
Colorado]
The quest for answers - and compensation - for electrical pollution on the farm
November, 2008 by Kate Proctor in Better Farming
November, 2008 by Kate Proctor in Better Farming
Both animal and human health is suffering from stray voltage that can cause catastrophic problems in the barn. But nailing down the precise causes and where the responsibility lies has proved a long and difficult struggle
Driven out of business as a result of a raft of health and behaviour problems suffered by their herd, beef producers Ross and Darlene Brindley are suing Hydro One Networks Inc. and Edmonton Power Corporation (EPCOR) for a hefty $5 million. They claim that stray voltage from EPCOR's wind turbines not only destroyed their herd, but has also had a severe impact on their own health as well. And they are not alone.
Solar power costlier for Florida than nuclear, report finds
November 26, 2008 by John Dorschner in Miami Herald
November 26, 2008 by John Dorschner in Miami Herald
In a much anticipated report that could affect every Floridian's pocketbook, a consultant hired by the state says solar power could be a competitive source of electricity by 2020 in many scenarios, but it will cost considerably more than new nuclear power and natural gas, the main sources of power for present customers of Florida Power & Light.
Biomass -- things like plant waste, wood chips and garbage -- will be a financially viable source in all scenarios, but wind isn't likely to be much of a factor in Florida.
Also filed under [
Energy Policy|
Florida]
More than 100 Tulsans were blindsided by the news they'll lose their jobs at the start of the new year in an industry thought to be one of a few bright spots in our economy in crisis.
Wind energy is a relatively new industry to this part of the country. ...The managers of the Tulsa plant would not comment on camera. But, the corporation released a written statement:
"The plant closure is due to wind farm developers' difficulty in receiving financing. And due to that lack of financing developers are forced to delay upcoming projects."
Also filed under [
Oklahoma]
Also filed under [
Tax Breaks & Subsidies|
Maine]
Credit crunch, lower natural gas, transmission congestion put brakes on wind power
November 17, 2008 by Jim Fuquay in Star-Telegram
November 17, 2008 by Jim Fuquay in Star-Telegram
When investor Boone Pickens put a hold on a huge wind power project in the Texas Panhandle that he had announced in the spring, he wasn't alone.
A number of wind power developers and researchers say the ongoing credit crisis, together with transmission congestion in West Texas and falling natural gas prices, will slow the state's breakneck expansion of wind capacity. ...But there also is a peculiar wrinkle in wind power's finance that makes the current environment doubly challenging.
"Most wind projects in the U.S. are funded by investors with an appetite for tax benefits," said David Groberg, vice president of Invenergy Wind, a Chicago-based company with 690 megawatts of wind capacity in Texas.
Also filed under [
Energy Policy|
Texas]
Offshore wind costs alarm Centrica
November 14, 2008 by Ed Crooks and Fiona Harvey in Financial Times
November 14, 2008 by Ed Crooks and Fiona Harvey in Financial Times
The cost of offshore wind farms has continued to soar, Centrica said, leading the company to review the economics of its £4bn wind power investment programme.
The spiralling costs of offshore wind threaten to derail the government's renewable energy plans, which rely heavily on offshore turbines because of the difficulty and delays in obtaining planning permission for onshore wind farms.
Also filed under [
Energy Policy|
UK]
Babcock fight to survive crunch hinges on asset sales
November 14, 2008 by Stuart Kelly and Brett Miller in Bloomberg News
November 14, 2008 by Stuart Kelly and Brett Miller in Bloomberg News
Babcock & Brown Ltd.'s fight to avoid becoming Australia's next victim of the credit crisis may depend on convincing bankers that it can sell assets in a market where others have failed.
Babcock slumped 51 percent in Sydney trading since Nov. 6, when ABN Amro Holdings NV analyst John Heagerty said the owner of wind farms and real estate may breach loan agreements next year. ...Babcock said June 16 it was "confident'' the wind assets would be sold this year -- an assumption Heagerty said may prove too optimistic.
"The sale of Babcock's wind assets is likely to be postponed further given the difficulties for the acquirers in obtaining financing,'' he said.
Also filed under [
USA|
Australia / New Zealand]
Wind farms are blowing land values off course, slashing property tags by up to a third in some areas and lifting others by as much $50,000 per turbine.
A new study shows the presence of wind turbines significantly influence land values - but it's not all bad.
The study co-incides with a new push by the Federal Government to speed up the building opf wind farms across Australia.
Ballarat-based value Alan Hives said there had now been enough sales of property featuring or near wind farms to draw some conclusions of their impact on property values.
Also filed under [
Property Values|
Australia / New Zealand]
Centrica, which is raising 2.2 billion pounds to help fund its proposed 25 percent stake in nuclear power generator British Energy, said it was "revisiting the economics of wind farms given rising raw material and credit costs."
The company, which hopes to start full operation of its new Lynn & Inner Dowsing wind farms off the coast of eastern England by the end of the year, has yet to approve investment for three more farms that it plans to build in the North Sea.
Also filed under [
UK]
Developers of a proposed Speyside wind farm have hit back at claims it will deter visitors and insist their plans will promote tourism in Moray.
Dorenell Wind Farm on the Glenfiddich Estate will give local tourism a valuable boost and inject ongoing investment into the Moray economy, said Infinergy.
And it accused a survey by a local accommodation provider, Tomintoul and Glenlivet Highland Holidays marketing group - which claimed a large number of tourists would be deterred from visiting the area because of the wind farm - of lacking objectivity and claimed it should be discounted because it asked leading questions.
California study shows high cost of renewable power
November 7, 2008 by Bernie Woodall in Thomson Reuters
November 7, 2008 by Bernie Woodall in Thomson Reuters
If California expands its renewable power generation to be a third of electricity delivered in the state by 2020, it may cost $60 billion, the state's utility regulator said in a report issued on Thursday.
It is more costly to make electricity with renewable power -- solar, wind, geothermal and other sources that emit no or low amounts of global-warming greenhouse gases -- than with natural gas, nuclear and coal power plants. ...On Tuesday, California voters overwhelmingly -- 65 percent of the vote -- rejected a statewide ballot measure that would have required 50 percent of power to be generated from renewables by 2025.
Does green energy add 5 million jobs? Potent pitch, but numbers are squishy
November 7, 2008 by Jeffrey Ball in Wall Street Journal
November 7, 2008 by Jeffrey Ball in Wall Street Journal
On the campaign trail, Mr. Obama argued that spending $150 billion over the next decade to boost energy efficiency would help create five million jobs. ...Critics say analyzing only new green jobs misses half the story.
"It's not looking at the other side of the coin: You are spending more money for your energy," says Anne Smith, a vice president at CRA International. ...gains in green jobs would be "more than offset" by job losses elsewhere in the economy.
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