Time for electric bills to "necesarily sky rocket" as planned.
Edit: saw too late I spelled necessarily wrong in the title really wish we could edit those...
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My electric bill is getting fuckin ridiculous and it was insane in the state I just moved from. Anyone else noticed for past 2 years? This is just jaw dropping...
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................. These are not computer models or projections or estimates. These are the actual prices that electric distributors have agreed to pay for new capacity. The costs will be passed on to consumers at the retail level.
Obama’s War on Coal has already taken a remarkable toll on coal-fired power plants in America.
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.
Why the massive price increases? Andy Ott from PJM stated the obvious: “Capacity prices were higher than last year's because of retirements of existing coal-fired generation resulting largely from environmental regulations which go into effect in 2015.” Northern Ohio is suffering from more forced coal-plant retirements than the rest of the region, hence the even higher price.
These are not computer models or projections or estimates. These are the actual prices that electric distributors have agreed to pay for new capacity. The costs will be passed on to consumers at the retail level.
House Energy and Power Subcommittee Chairman Ed Whitfield (R-Ky.) aptly explained: “The PJM auction forecasts a dim future where Americans will be paying more to keep the lights on. We are seeing more and more coal plants fall victim to EPA’s destructive regulatory agenda, and as a result, we are seeing more job losses and higher electricity prices.”
The only thing that can stop this massive price hike now is an all-out effort to end Obama’s War on Coal and repeal this destructive regulatory agenda.
The Senate will have a critical opportunity to do just that when it votes on stopping Obama’s most expensive anti-coal regulation sometime in the next couple of weeks. The vote is on the Inhofe Resolution, S.J. Res 37, to overturn the so-called Utility MACT rule, which the EPA itself acknowledges is its most expensive rule ever.
This vote is protected from filibuster, and it will take just 51 votes to send a clear message to Obama that his War on Coal must end.
Of course, Obama could veto the resolution and keep the rule intact, although that would force him to take full political responsibility for the massive impending jump in electricity prices.
I have a form set up at www.WarOnCoal.com to make it easy to contact your senators on this crucial issue.
Phil Kerpen is president of American Commitment and author of “Democracy Denied.”
Yeah I'm in the mid atlantic and my electric bill is my second biggest expense next to my mortgage at arond $340 per month, but everything is electric so my electric bills are somewhat higher then average. Only about $40 of that is my grow space.
I have to wonder about all this in what you're posting though. Coal has been promoting itself big time ever since Obama took office as being America's primary source of electricity for the next 100 years. Also as I recall one of the things Obama was criticized on by supporters of big oil and environmentalists was wanting to depend more on coal. Something about clean coal is what Obama promised but it was all a shame because there is no such thing as clean coal.
Given this is an election year such controversial stories must be considered carefully and with suspicion. IMHO.
I mean the problem here is the issue comes from cap and trade which as far as I know hasn't passed yet and I don't see it ever getting signed into law in the current political environment. Yes electricity prices are skyrocketing but it's not because of anything Obama has done yet.
seriously when are people going to stop electing people willing to regulate them into slavery?
Well it's not surprising though, we saw deregulation under Bush and look where that got us.
I figure some regulation is a necessary evil to keep a few from pushing all of us into a troubled economy. I'm not saying the regulation discussed in the video is this kind of regulation. If it can be passed onto the consumer the fix is worse then the problem. The biggest increases to hit my electric bill and made it higher then my carpayment and insurance combined was when Bush brought us deregulation the first and second year after, rates went up 66% each year.
At least that's how it is here in the mid atlantic where I live.
The prices will be set in 2015, and from what I've read this is the price for just the 20% extra capacity reserve. The higher price - an alarming 8x higher would get absorbed into the cost of the non reserved cost. And "they" say that thanks to fracking, the regular wholesale price will go down, pretty much making it a wash in the best case scenario.
Of course that doesn't negate the need to get that Kenyan communist the hell out of the White House.
so legit!!! I had some experience in cali workiing for a solar company named Verengo Solar located outta orange county i want to say still, its been about a year or two since i worked for them but they definitely had the setup! when things started i remember it was all about Govt incentives for anyone thats paying more than 150 a month which we all know is easy anyway they do a completely free consultation before any kind of commitment. pretty nicely as well, they use satellite photos to determine the % of sun exposure your roof or property has to decide where the best place to set up a solar system. best part i remembered was the $1000 down deal they had, where if u had a high bill, good roof exposure and u owned the house the $1000 is all theyd ask of u to replace your box on the house with one converted for the solar system. after that you are still tapped into the grid obviously but if you produce more electricity than you use, you get "credits" for your elec bill instead of paying it