Annual Report on New Renewable Resource Portfolio Requirement
The cost to continue the support of renewable projects, mostly existing projects, some having been in service since 2008, set a new record for Maine ratepayers, totaling $110,010,350 for 2024, which comes to 0.944 cents per kilowatt hour. Of course, Commisssioner Bartlett and OPA Sanborn want you to know natural gas prices are the reason electricity supply prices are getting higher. Since 2008, this program has cost Maine ratepayers over $471 million dollars, all going to generators that should be competing in the market without subsidies; that are prolonged to the extent that these generators are paid better through this support mechanism than the market they are also willing to suck money from.
The absurdity does not stop with this wealth destorying support program. RGGI, a carbon tax assessed on natural gas power plants has cost ratepayers nearly $300 million dollars since inception, most all that goes into the coffers of the long time bureaucracy, Efficiency Maine Trust(EMT). Shouldn't EMT have accomplished all the efficiencies of electricity required by Maine, by now? EMT has also received $475 million dollars from ratepayers in a separate program that applies up to a 4% surcharge on electricity bills.
RGGI payments from natural gas plants add $9 to $10 per every megawatt hour they produce which is and has been for years around 50% of all New England electricity produced, and will be for many years forward. All generators, even the poor renewable generators get this extra $9 to $10 per megawatt hour.
These programs, Renewable Project Support, RGGI and EMT have added $1.25 billion dollars to Maine electric bills. Add another $769 million from Net Energy Billing and the costs exceed $2 billion dollars.
These programs prolong the pain to ratepayers as the Renewable Project Support continues to add projects on top of existing projects to the portfolio and has no end date. This, in spite of the fact natural gas production has not deceased. RGGI is designed to decrease allowable carbon dixoide emissions from natural gas plants annually, so the costs due to undersupply keeps going up.
And EMT is not worth the money, and ever since the federal money to them has dried up, they are now charging Maine ratepayers more to keep their bloated budget intact. They even make money from ratepayer money and keep it for themselves.
Net Energy Billing is an illegal, failed pyramid scheme and monetary reparations to all Maine ratepayers is the proper course for it's elimination.
$110,010,350 or 0,944 cents per kilowatt hour
by Dan McKay
7 hours ago
Report from Maine PUC:
Annual Report on New Renewable Resource Portfolio Requirement
The cost to continue the support of renewable projects, mostly existing projects, some having been in service since 2008, set a new record for Maine ratepayers, totaling $110,010,350 for 2024, which comes to 0.944 cents per kilowatt hour. Of course, Commisssioner Bartlett and OPA Sanborn want you to know natural gas prices are the reason electricity supply prices are getting higher. Since 2008, this program has cost Maine ratepayers over $471 million dollars, all going to generators that should be competing in the market without subsidies; that are prolonged to the extent that these generators are paid better through this support mechanism than the market they are also willing to suck money from.
The absurdity does not stop with this wealth destorying support program. RGGI, a carbon tax assessed on natural gas power plants has cost ratepayers nearly $300 million dollars since inception, most all that goes into the coffers of the long time bureaucracy, Efficiency Maine Trust(EMT). Shouldn't EMT have accomplished all the efficiencies of electricity required by Maine, by now? EMT has also received $475 million dollars from ratepayers in a separate program that applies up to a 4% surcharge on electricity bills.
RGGI payments from natural gas plants add $9 to $10 per every megawatt hour they produce which is and has been for years around 50% of all New England electricity produced, and will be for many years forward. All generators, even the poor renewable generators get this extra $9 to $10 per megawatt hour.
These programs, Renewable Project Support, RGGI and EMT have added $1.25 billion dollars to Maine electric bills. Add another $769 million from Net Energy Billing and the costs exceed $2 billion dollars.
These programs prolong the pain to ratepayers as the Renewable Project Support continues to add projects on top of existing projects to the portfolio and has no end date. This, in spite of the fact natural gas production has not deceased. RGGI is designed to decrease allowable carbon dixoide emissions from natural gas plants annually, so the costs due to undersupply keeps going up.
And EMT is not worth the money, and ever since the federal money to them has dried up, they are now charging Maine ratepayers more to keep their bloated budget intact. They even make money from ratepayer money and keep it for themselves.
Net Energy Billing is an illegal, failed pyramid scheme and monetary reparations to all Maine ratepayers is the proper course for it's elimination.
The PUC Report can be found on the PUC website: https://www.maine.gov/mpuc/sites/maine.gov.mpuc/files/inline-files/2024%20Activity%20RPS%20Report%20to%20Legislature-Final.pdf