Mary Powell, the CEO of Green Mountain Power (GMP), Dave Halquist, the CEO of Vermont Electric Cooperative and the Public Service Board characterize the Kingdom Community Wind Project as “cost-effective.” All imply that it is a good buy for Vermont.
Is the project a good buy for electricity? Citizens will pay an estimated $188 million more than market prices over the next 25 years for electricity from this project. So it is not “cost-effective” electricity.
Is the project a good buy for reducing CO2 emissions? Vermonters will pay $100 to avoid a metric ton of CO2 emissions with this project. Under the Renewable Portfolio Standards policy that 29 states use, CO2 emissions can be reduced for $13 – $25 a ton. So it is not a “cost-effective” way to reduce CO2 emissions, and it destroys an irreplaceable natural resource.
So if Vermont citizens are not getting a good buy, who is? The big money winner is Gaz Metro who expects a 9 percent return on their investment – a much better rate than you can get at a bank.
By voting “NO” on the VEC transmission upgrade, VEC members can help save Vermont from this project and potentially from similar projects.
You can find documentation for these facts and learn more at whyvoteno.com.
Ron Holland, VEC member
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