With the recent article here in the SJ-R about CWLP losing more than $3 million in the last six months from its wind power deal, I have to wonder how much money people are willing to lose?
Then there is the issue of how this 10-year contract came up in the first place and how much CWLP, and therefore we the ratepayers, lost from the very beginning.
I have nothing against wind power itself but it seems we are getting the raw end of this deal. CWLP has to buy wind power under contract for $46.60 per megawatt and can only sell the electricity they produce for $22.85 per megawatt.
It is my understanding that CWLP can produce electricity now for less than $46.60 per megawatt and I believe they will be able to produce it cheaper than $46.60 until the end of the contract. So in actuality, how much are we really going to lose by the time this contract is up?
Even with the huge government subsidies associated with wind power I personally don’t think the cost to produce wind power will ever be competitive with coal because they can only produce electricity when the wind is blowing and, it cannot be relied on to meet peak demands. So to add insult to injury we are paying for the subsidies and are losing more money by having to buy the electricity from them.
Now I have read that there are plans to build a wind power project in western Sangamon County that may encompass 50,000 to 75,000 acres.
I don’t know about anyone else but I wonder if the majority of people really think it is going to be such a great idea to most likely lose even more money in the future?
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