Obama and the Cost of Your Electricity
Sunday, May 27th, 2012 | Author:

We can all thank the Obama administration and the EPA for pushing up the cost of coal (and hence, electricity for those of us living in the Midwest)…  It appears that that future price for coal-powered electricity in 2015 is going to cost us 8X of what it costs us today.  According to an article at Fox News:

 …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.

 

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