Articles filed under Impact on Economy
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.
CU has an agreement with Smoky Hills Wind Project to purchase wind energy, but Smoky Hills says a series of “curtailments” caused CU to buy less energy and for Smoky Hills to receive less value in tax benefits.
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.
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.
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.
A new wind power analysis has found it would cost Nebraska utilities as much as $4 billion to upgrade the state’s electricity transmission system to support the export of wind-generated power to other states.
An average household is expected to pay as much as £250 more for electricity – mainly through consumer subsidies – to pay for the Government’s green energy schemes, while an electrically heated house could be as much as £440 a year worse off.
This is an error with ugly consequences. The energy revolution, as it is now applied, results in dirtier air. It ensures that Germany fails at its self-imposed climate goals. The energy revolution inadvertently promotes the use of dirty coal plants and destroys the relatively clean gas power plants. "In retrospect, it all makes sense," says Graichen.
While experts continue to tout wind energy as a diversification target for many West Michigan manufacturers, companies that supply the industry say they’ve faced a period of stagnant demand, especially now that a key federal incentive no longer exists. ...Part of the boom and bust felt by Michigan’s wind energy manufacturers can also be attributed to the state’s inability to attract an original equipment manufacturer like GE Corp. or Vestas Wind Systems to locate a production facility here,
But the city-owned utility, Austin Energy, has balked at the council’s proposal and said it would be too expensive for ratepayers. And since then, a debate has ensued over how to be politically progressive and economically practical at the same time. ...“It’s good to have aspirations except if the aspirations are so far afield that they are simply going to be ignored.”
Former environment secretary, Owen Paterson, will argue that the 2008 Climate Change Act, which ties Britain into stringent targets to reduce the use of fossil fuels, should be suspended until other countries agree to take similar measures. If they refuse, the legislation should be scrapped altogether, he will say.
Nearly half of New England’s electricity is now generated by natural gas, compared with just 15 percent in 2000. But officials say the region doesn’t have the pipeline infrastructure to match the need. The problems arise during the winter, when electric power generators and home heating companies are both vying for natural gas, which is funneled to the region through pipelines coming from the Pennsylvania area.
Ministers cut forecasts of gas prices for the rest of the decade by as much as a fifth, meaning green energy will remain relatively far more costly. ...“Year after year [energy secretary] Ed Davey has been banging on that one of the core reasons [for backing green energy] is to protect ourselves against inevitably high and volatile fossil fuel prices. Now their own forecasts are saying fossil fuel prices are going to be very affordable,” he said.
By awarding them early, and using more than half the budget for the contracts in the process, the government has hampered price competition, reduced the opportunity to test the market and failed to defend consumer interests, the Committee of Public Accounts said. The beneficiaries include Drax Group Plc, Dong Energy A/S, SSE Plc, Statoil ASA and Statkraft AS.
Black Hills wants to increase utility rates by 4 percent starting next year to make up for the construction cost of a wind farm in Huerfano County. "I'm here to absolutely oppose this rate increase," Kiera Hatton said to Administrative Law Judge Robert Garvey.
Jones said Black Hills Energy is asking for a four percent electric rate increase to pay for construction of a wind farm that was built in Huerfano County in 2010. The increase would be about a $4 hike in a customers' monthly utilities bill.
"Germany's current path of increasingly high-cost energy will make the country less competitive in the world economy, penalize Germany in terms of jobs and industrial investment, and impose a significant cost on the overall economy and household income," warned Daniel Yergin, vice chairman of research firm IHS.
Green policies imposed by Brussels are endangering 1.5m UK jobs by saddling manufacturers with high energy costs. A report published on Wednesday says that EU policies are to blame for up to 9 per cent of costs on energy bills for industrial companies and warns this could rise to 16 per cent by 2030.
In its latest 18-month outlook, the IESO forecasts that 99.5 per cent of Ontario’s 12,947 MW of installed nuclear capacity will be available during summer consumption peaks. But it predicts only 13.7 per cent of the 1,824 MW of installed wind capacity will be available. Solar is even less reliable. So, when wind and solar actually do produce power, it’s usually dumped.
Britain’s biggest energy supplier also revealed it was scrapping plans for a massive multi-billion pound wind farm in the Irish Sea, suggesting the UK should cease building expensive offshore turbines for at least a decade to prevent high costs pushing up consumer bills.