June 7, 2012

Wind energy is booming, but where’s the money?

By: Gina Benitez, bigcountryhomepage.com 6 June 2012

Jerry Beaird has 16 wind turbines on his property. They’ve been producing quite efficiently but Beaird hasn’t seen a single penny since November.

“So December, January, February, March and April we got letters saying there was no revenue generated but the site managers say that January was a record month,” says Beaird.

So how could record production leave the landowners completely dry? The letters state various market factors attributed to the lack of revenue. They don’t go into specifics, but Beaird has his own ideas.

Beaird says, “They’re promising more kilowatts than they can produce. So they’re selling short on the contracts.”

Nextera, formerly known as Florida Power and Light, owns the turbines and electricity. Beaird believes Nextera might be selling contracts to Gexa, a subsidiary of theirs. Not just selling, but over selling.

“They’re selling contracts and they’re not fulfilling them so they have to go back in and buy electricity at a higher price than they sold it,” says Beaird.

Ultimately, making no money. Tom Cox owns the land next door. His property has 10 turbines.

Cox says, “Part of it is natural gas. As natural gas gets cheaper, electricity gets easier to generate at a conventional plant.”

However, Cox believes something internally just isn’t right.

“But that’s ridiculous,” says Cox, adding, “to go from a sizable amount of money down to zero.”

And an issue with no immediate solution and out of the hands of the landowners.

Beaird adds, “What they’re doing may be legal, but it’s very unethical, it’s very unchristian, it’s very un-American.”

URL to article:  https://www.wind-watch.org/news/2012/06/07/wind-energy-is-booming-but-wheres-the-money/