This week, the Pittsburgh Tribune-Review wrote an editorial showcasing IER’s recent study on the true cost of electricity to help illustrate the exorbitant costs of Obama’s carbon plan. Below is an excerpt from the piece:
Using federal data reported by electricity generators, the study found one megawatt-hour of electricity from existing nuclear plants costs an average of $29.60. Comparable figures for existing hydro-, coal- and natural-gas-powered plants are $34.20, $38.40 and $48.90, respectively.
But for new natural gas plants, it’s $73.40, and for new wind turbines, $106.80 — with the dramatic cost differences due largely to capital costs and the requirement for natural gas-fired plants to “be ramped up and down rapidly” as winds blow and calm.
Mr. Pyle urges states, which are supposed to submit compliance plans or see the feds impose their own, to “think twice about working with the EPA.” As he puts it, building new power plants to comply “would impose expensive and unnecessary costs — and the public would foot the bill,” with low-income households hit hardest.
Ah, another “progressive” pig in a poke.
Click here to read the rest of the editorial.