Electric Prices Set To Sky Rocket - Thanks Obama

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.

http://www.foxnews.com/opinion/2012...l-hits-your-electric-bill/print#ixzz1vdALNXOI

 

this needs to be news.

 

Media's too busy talking about Romney's time at Bain...Obama will get the usual 'pass' that most dems get.

 

are poor black families getting a subsidy from Obama?

 

WE'RE ALL GONNA DIE AND IT'S OBAMA'S FAULT AIEEEE!!!!

Coal is dying thanks to natural gas. And there is a lot of power generation coming on line in the next 18 months--I know, it's my business. You are once again, pspr, handwringing, and ignorantly pointing your finger in the wrong direction.

 

Romney had better start talking about this. Obama and the EPA are out of control.

 

does this mean that natural gas is going to substitute so well that energy prices will not go up.

or does this mean Obama's policy is to switch us to more expensive energy sources?

 

"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."

"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."

Another blind liberal. Did you miss the part about the prices agreed to for 2015 that show an 8 fold price increase per megawatt?

Coal is dying because the EPA won't approve any new coal fired plants.

If I were your boss I would probably fire your ass for being so ignorant.

 

Wait until people in Ohio pay a few of those electricity bills, I think Ohio is rather important in the election and the state will likely go against Obama.

Killing coal use while China builds a coal-fired power plant every month is pretty stupid and won't stand. Ricter hasn't got any rational justification for such a stupid policy so he will remain silent. Lame.