Rate Inflation in New England (perils of political electricity)
By Allen Brooks -- December 10, 2024
“Electricity bills in New England are poised to experience a sharp increase driven by the clean energy mandates in five of the six states, which require duplicative, overbuilt renewable energy.”
Connecticut ratepayers suffered sticker shock this summer when they opened their July electric bills. While their energy consumption was relatively flat, the “public benefits” component doubled for some and tripled for others. The culprit was not hard to find given a legislative requirement for utilities to itemize the cost components of monthly bills.
“Public benefits” cover the cost of subsidies the state provides for low-income electricity customers and energy-efficiency programs. They also include solar, electric vehicle, and other renewable energy incentives.
The wide array of renewable energy subsidies and aid to low-income residents who cannot afford high-cost electricity, growing everywhere, is an increasing cost burden for power users in the Northeast.
https://www.masterresource.org/new-england-energy-policy/rate-inflation-new-england-decarbonization/
