Articles filed under Impact on Economy

The night they drove the price of electricity down

In the wee hours of the morning on Sunday, the mighty state of Texas was asleep. The honky-tonks in Austin were shuttered, the air-conditioned office towers of Houston were powered down, and the wind whistled through the dogwood trees and live oaks on the gracious lawns of Preston Hollow. Out in the desolate flats of West Texas, the same wind was turning hundreds of wind turbines, producing tons of electricity at a time when comparatively little supply was needed.
22 Sep 2015

R.I. businesses fear spike in energy costs

RIMA’s objection to the Deepwater Wind project is the pricing mechanism that is in place and how that was established. The overall cost for electricity generated by Deepwater Wind is about four to five times that of natural gas and other renewable sources ...The excess, above-market cost to ratepayers will be about $497 million over 20 years (not including investment tax credits, the cost for the oversize cable, and other direct projects costs).
1 Sep 2015

Government faces multi-billion pound black hole in budget to pay for clean energy supplies - which could mean your electricity bill rises

Under the scheme, everyone – from a household who decided to put a solar panel on the roof to the developer of an offshore wind farm – was guaranteed a premium on top of the market price for electricity, to help encourage the development of renewables. ...due to a decline in the wholesale price of oil and gas, as well as higher than expected installation of home solar panels, this budget of £7.6bn per year has already been busted by more than 20 per cent.
16 Jul 2015

German backlash grows against coal power clampdown

A German energy industry association survey found that 53% of investors in power plants scheduled to come online in the next decade had frozen their involvement in the projects because of political uncertainty. “If politicians carry on as they do now then there will be no new, modern power stations. There are no incentives whatsoever for investments, despite politicians emphasising all the time that they aim to change this. It is also likely that further closures will follow.”
14 Apr 2015

With Cape Wind Faltering, New Bedford’s Future As Offshore Wind Hub Uncertain

Matthew Beaton, the new state energy secretary, ...says he wouldn’t make that investment today. “I don’t know if, given the uncertainty of Cape Wind at that time, and the overall question marks of offshore wind development, is a $100-plus million investment the appropriate use of those funds? Could we have used those monies in a more well-suited manner?”
6 Apr 2015

Green energy from the Columbia Gorge proving costly to Cowlitz PUD ratepayers

On the plus side, the $130 million investment means the PUD satisfies state renewable energy requirements through 2027 under current law. But there’s the tiny matter of wind farms running a $1 million-per-month loss, with no profits projected anytime soon, thanks to a depressed market for the power. It’s like owning a rental home in an area with too many rentals and not enough renters and having to lease for a price that doesn’t cover your costs.
4 Apr 2015

EU slipping on economic competitiveness, employers say

Overall on energy, “we have much higher political costs in Europe,” Beyrer said, citing renewable-energy policies that cause “market distortion” and environmental efforts that are out of sync with global standards. If the rest of the world doesn’t sign on to the EU’s ambitions for reducing emissions targets, he said it may be time for Europe to “discuss our level of ambition” to avoid economic damage.
17 Mar 2015

Greens clueless on energy

In short, if campaigners get their wish and fossil fuels are phased out by 2040, the world will face an energy gap of at least 9.2 billion tonnes of oil equivalent. That is the equivalent of 147 countries with no energy. To illustrate, an energy gap like that would mean that the 56 nations of Africa, the 44 nations of Latin America, the 12 nations of the Middle East and 35 nations in Asia, including China, would have to exist without energy.
16 Jan 2015

Angela Merkel dashes loss-making power plants' aid hopes

The government is working towards a way to safeguard permanent electricity supply, with cash for loss-making plants at one end of the spectrum of possible solutions and letting markets decide with price spikes in low supply periods the other. Utilities argue the latter solution could cause more mass closures and leave the market under-invested too long. 
15 Jan 2015

The Big Drop: Cheap oil burns green energy

Shares in Denmark’s Vestas, the world’s largest wind turbine supplier, dived after the oil producers’ cartel Opec decided not to cut production in late November and prices are still down 11 per cent, noticeably below the broader market.The Chinese solar panel giant, Yingli Green Energy, and Tesla Motors, the US electric carmaker, have suffered even sharper share price falls. Crude’s surprise rise of $3 a barrel to $63.40 on Wednesday did little to halt the decline.
17 Dec 2014

http://www.windaction.org/posts?p=4&topic=Impact+on+Economy&type=Article
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