Library filed under Impact on Economy from Connecticut
This report by the Yankee Institute examines the State of Connecticut's mandate requiring electricity providers to get a certain percentage of their power from renewable energy sources. The executive summary of the report is provided below. The full report can be accessed by clicking the links on this page.
“The states and NESCOE are deliberately working out the details of this plan in secret, consistent with the view of one of NESCOE’s staffers that the plan should be ‘formulated behind closed doors’ because the ‘court of public opinion can be fickle and recalcitrant,’ ” Courchesne wrote, quoting an email from a NESCOE staff member to Executive Director Heather Hunt.
The average 8-cent price for the two contracts was only possible because Connecticut is buying a large amount of cheaper power from Maine — probably 6-7 cents per kilowatt hour — that makes the cost of the Connecticut solar power — probably 12-15 cents per kilowatt hour — more affordable on average.
It has been reported that Massachusetts’ utilities National Grid, Northeast Utilities and Unitil have negotiated power purchase agreements (PPAs) for 565 megawatts of electricity capacity from existing and proposed wind farms in New Hampshire and Maine that would provide electricity at wholesale rates of approximately 8 cents per kilowatt-hour.
As I reported in Saturday's paper, New England is experiencing a remarkable spike in electricity prices brought on by high heating demand and rising natural gas prices for electric generators.
A portion of the wind energy generated from newly installed wind turbines located in PEI was wheeled through PEI and New Brunswick and sold to the New England Power Pool (NEPOOL) via the international interconnection node in Keswick, N.B. The renewable energy certificates (RECs) that were generated from this transmission were sold separately to independent buyers located in the NEPOOL.