CMP has told Mainers that the MPRP upgrade is needed because our power lines are 40 years old. But we know the real reason is so that spurting wind, however intermittent, require new lines to prevent thermal overload. Below it states that the benefit of this project is for interstate transport of electricity. What that means is that the ratepayer is being forced to pay for new transmission, without which, the already subsidized wind companies would not have a way to sell their electricity to southern New Englanders who are forced to buy renewable power, however inefficient. In other words, a tiny few make a fortune because they succeeded in getting the Maine PUC to approve an otherwise unnecessary project - one that the ratepayer must now pay for, even though they derive no benefit.
United States: Increased contribution from IBERDROLA USA
IBERDROLA USA contributed 9% to Group Ebitda in the period, representing €328.1 million, an increase of 39.8%. IIBERDROLA’s performance in the United States was also strengthened by the significant growth of its renewable energy subsidiary. The Group now has installed capacity in the country totalling 4,841 MW, a rise of 803 MW from the year before, of which 3,877 MW are wind power.
Sustained by this increased capacity, IBERDROLA increased production by 22,8% in the U.S. to 6,599 million kWh. Distributed energy came to 14,960 million kWh, 14.7% of the Group total. The Company operates in 23 states through regulated activities (electric and gas networks), gas storage, conventional generation and wind power.)
The Company recently announced the start of one of the key projects in the United States in the field of electricity transmission. The project, which will benefit electricity interconnections between Massachusets, New Hampshire and Maine, as well as between Maine and Canada, represents an investment of $1.4 billion whose cost will be met by customer tariffs in New England.
The Group expects to finance the project with approximately $1.3 billion in funds to be obtained from the sale of non-core assets in the states of Connecticut and Massachusetts: the Connecticut Natural Gas Corporation (CNG), The Southern Connecticut Gas Company (SCG) and The Berkshire Gas Company (BGC).
MADRID (Dow Jones)--Spanish renewable energy company Iberdrola Renovables SA (IBR.MC) Monday said grants it has received in the U.S. for renewable energy now amount to $867 million.
The latest grant paid to the company by the U.S. government totaled EUR170 million for investments in the Cayuga Ridge wind park in Illinois.
Iberdrola Renovables is a unit of Spanish utility Iberdrola SA (IBE.MC), and is the world's biggest wind-power generator.
-By Juan Montes, EFE Dow Jones; +34-91-395-8120; email@example.com