Will renewable mandates make Ohio electricity rates skyrocket? Well, it is happening elsewhere

In Illinois where our Champaign County and Urbana cousins reside, there seems to be a bit of chaos as Invenergy’s property taxes of $480,298 remain UNPAID. Invenergy’s wind assets are reported to be 90% owned by the yieldco TerraForm Power. Reports state that SunEdison is TerraForm Power’s parent company.  We don’t really know what is up with Invenergy but we were interested to see that the law form of Bricker and Eckler in Columbus just notified the OPSB of their termination of representation of the Invenergy project in Hardin County. Maybe they didn’t pay their bill?……

Speaking of collapse, look at the story about the Renewable Energy Credit price collapse in New England. “RECs are certificates that show a certain amount of electricity was generated from a renewable energy resource. RECs can be sold or traded, and the holder of a REC owns the right to claim to have purchased renewable energy. Like tax credits, RECs help fund otherwise cost-prohibitive renewable energy applications like wind turbines and solar panels. The buyer of a REC gets credit for the energy, and RECs in turn.” “As states get closer to meeting RPS standards, the demand for RECs will drop. Linowes said this is one reason for the current decline in REC prices.” “The only thing that’s going to stop it from dropping is if one of the states changes their RPS law and increases the mandate,” she said.” Linowes warns that the march up mandate mountain will have to resume or else “ratepayers may be called upon to foot the bill for the higher cost of renewable power.”

We fear that Ohio will be put on the road to a fate similar to New England if Governor Kasich vetos HB 554. Senator Seitz on the floor of the Senate stated that there are more than enough REC’s available to meet Ohio’s mandates right now. Will our region’s REC prices start to collapse? Will there be calls for increased mandates? Help ward off this miserable future by calling Governor Kasich today! 614-466-3555

The economic viability of green energy investments is starting to come crashing down as the price of renewable energy credits plummets….

Some Vermont utilities have already announced rates are going up. In November, Washington Electric Cooperative, which serves 41 towns in north-central Vermont, said it is filing a request with the Public Service Board to increase rates by about 6 percent.

Bill Stewart, a New York City-based consultant for the renewable energy industry, agreed that Vermont utilities put themselves in a bad spot. Specifically, he named GMP, Burlington Electric, and Vermont Public Power Supply Authority (VPPSA).

“If these prices stay low, electricity prices in the state of Vermont are going to have to go up to essentially have the ratepayers pay for this mistake,” Stewart said….

Source: Renewable energy’s economic model collapsing as REC prices plummet – Watchdog.org