New York's Wind Power Prices: A Fiscal Disaster Ahead
Submitted by MAGA
Posted 91 days ago
**Obscene Wind Power Costs Raise Eyebrows in New York**
In a shocking move that has left many New Yorkers questioning their leadership, the state has signed contracts to purchase offshore wind power at an exorbitant rate nearly four times higher than the current market price.
As the procurement process unfolds, New York state has committed to pay $155 and $146 per megawatt-hour for electricity generated by the Empire Wind 1 and Sunrise Wind projects, respectively, set to come online in 2026 and 2027.
This decision by the state government, influenced by the current administration's push for renewable energy, has ignited outrage among taxpayers who are already burdened with high living costs.
Critics argue that locking in these prices not only undermines the budgetary health of the state but also sets a dangerous precedent that encourages overspending on unreliable energy sources.
For context, New York's current energy rates sit at about $36 per megawatt-hour.
The stark difference in costs raises serious questions about the economic rationale behind such contracts.
Leading financial analysts reveal that the offshore wind sector is in turmoil, with operators across the East Coast facing cancellations and renegotiations of contracts at staggering price increases of 30% to 50%.
It is noteworthy that the break-even cost for offshore wind farms, according to estimates, hovers around $131 per megawatt-hour without government subsidies.
Even with subsidies factored in, these projects remain financially unviable, leaving taxpayers on the hook for hefty handouts—amounting to over $3 billion directed to foreign corporations such as Norway’s Equinor and Denmark’s Orsted.
The average American has to wonder: why is the government making energy decisions that allow foreign companies to rake in substantial profits while consumers face the burden of sky-high utility bills?
New Yorkers deserve affordable energy options that prioritize financial sense instead of ideologically driven policies that jeopardize their economic well-being.
This approach to energy procurement highlights a broader narrative that disregards fiscal prudence and accountability in favor of an unrealistic green agenda.
As the conversation around energy policy continues, it’s crucial for constituents to hold their leaders accountable for decisions that do not align with common sense and good governance.
Sources:
rumble.com
thegatewaypundit.com
zerohedge.com
In a shocking move that has left many New Yorkers questioning their leadership, the state has signed contracts to purchase offshore wind power at an exorbitant rate nearly four times higher than the current market price.
As the procurement process unfolds, New York state has committed to pay $155 and $146 per megawatt-hour for electricity generated by the Empire Wind 1 and Sunrise Wind projects, respectively, set to come online in 2026 and 2027.
This decision by the state government, influenced by the current administration's push for renewable energy, has ignited outrage among taxpayers who are already burdened with high living costs.
Critics argue that locking in these prices not only undermines the budgetary health of the state but also sets a dangerous precedent that encourages overspending on unreliable energy sources.
For context, New York's current energy rates sit at about $36 per megawatt-hour.
The stark difference in costs raises serious questions about the economic rationale behind such contracts.
Leading financial analysts reveal that the offshore wind sector is in turmoil, with operators across the East Coast facing cancellations and renegotiations of contracts at staggering price increases of 30% to 50%.
It is noteworthy that the break-even cost for offshore wind farms, according to estimates, hovers around $131 per megawatt-hour without government subsidies.
Even with subsidies factored in, these projects remain financially unviable, leaving taxpayers on the hook for hefty handouts—amounting to over $3 billion directed to foreign corporations such as Norway’s Equinor and Denmark’s Orsted.
The average American has to wonder: why is the government making energy decisions that allow foreign companies to rake in substantial profits while consumers face the burden of sky-high utility bills?
New Yorkers deserve affordable energy options that prioritize financial sense instead of ideologically driven policies that jeopardize their economic well-being.
This approach to energy procurement highlights a broader narrative that disregards fiscal prudence and accountability in favor of an unrealistic green agenda.
As the conversation around energy policy continues, it’s crucial for constituents to hold their leaders accountable for decisions that do not align with common sense and good governance.
Sources:
rumble.com
thegatewaypundit.com
zerohedge.com
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