Here's a reader comment found with this article that is quite telling:
"There is no taxpayer concern at all." - Gardiner
The FERC report for the fourth quarter of 2011 shows Record Hill Wind was paid an average "energy" price of $32 per megawatt hour of power generated. To repay their DOE guaranteed loan of $1.5 million per quarter the project will need a minimum of $48 per megawatt hour. Moving from the high wind months of winter and spring into the low wind months of summer and fall (one third decline based on other Maine wind projects) Record Hill Wind is going to have a severe cash flow crunch going forward.
Record Hill Wind's financial viability is not a question of if but when given the trend in wholesale market rates for electricity. Angus King is not walking away from his deal "as a senator tied financially to an energy company" but because he is a supporter and beneficiary of bad policies.
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