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Tag: Energy Prices Necessarily Skyrocket

Obama Keeps His Energy Promise

By Corinthian Scales, Section News
Posted on Thu May 24, 2012 at 09:47:34 AM EST
Tags: NObama, Anyone but Stabenow, Fred Upton, Liberal, Climate Change, Energy Prices Necessarily Skyrocket, Michigan, Trillions in New Debt (all tags)

Editor's note: Notice the year. The new EPA rules will be causing the Marquette facility to go offline to be a part of the problem. They have three years before the rates 'necessarily skyrocket'. - JGillman

via The Lonely Conservative

President Obama's anti-coal policies are about to hit millions of Americans in the wallet. Get ready for the great, big Obama-bump in your electric bill.

Last week the U.S. Energy Information Administration reported a shocking drop in power sector coal consumption in the first quarter of 2012. Coal-fired power plants are now generating just 36 percent of U.S. electricity, versus 44.6 percent just one year ago.
It's the result of an unprecedented regulatory assault on coal that will leave us all much poorer.
Last week PJM Interconnection, the company that operates the electric grid for 13 states (Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia) held its 2015 capacity auction. These are the first real, market prices that take Obama's most recent anti-coal regulations into account, and they prove that he is keeping his 2008 campaign promise to make electricity prices "necessarily skyrocket."
The market-clearing price for new 2015 capacity - almost all natural gas - was $136 per megawatt. That's eight times higher than the price for 2012, which was just $16 per megawatt. In the mid-Atlantic area covering New Jersey, Delaware, Pennsylvania, and DC the new price is $167 per megawatt. For the northern Ohio territory served by FirstEnergy, the price is a shocking $357 per megawatt.
Rest here

h/t Cardigan

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