Will this RhodeIsland school/town vote to be ‘fleeced’ by BigWind?

Who, in their right mind, believes it is a good deal for a school to sign a 25 year agreement to pay $0.155/kWh for electricity? And, then the community/taxpayers will pay the difference if rates fall below that level? AND, the turbine company is ensuring that they purchase a minimum amount of electricity over time? WOW! Could this community be any more gullible and uninformed?…If you question this logic, look at your own electricity bill; mine is BELOW $0.07/kWh….

 

Only a few more steps remain before the town formally enters an agreement with Wind Energy Development to replace its broken turbine….

…paving the way for the broken turbine at the high school to be replaced.

Under the terms of the proposed 25-year deal, the town would buy electricity from WED at a rate of .155kWh and WED would assume operational liability for the turbine. The town currently still owes $1.62 million on the existing, broken turbine with annual debt service payments of $221,670. Those debts will be paid off by WED and they would be responsible for taking down and replacing the existing turbine with a somewhat smaller model.

Portsmouth voters approved a $3 million bond to build the turbine in 2007 and it broke in 2012….

The deal will require the town buy at minimum 3.8 million kW/hr from WED per year, which means the school district is a needed partner. Town and school officials have been meeting over the past few weeks over the possible terms of the arrangement. School officials have been pushing for a promise that if rates go below the fixed .155kWh rate in the deal, the town would pay the difference to the schools.

Town Moves Forward with Turbine Repair Plan | Portsmouth, RI Patch.

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