From today's Boston Globe:
Technorati tags: Nuclear Energy, Nuclear Power, Environment, Energy, Politics, Technology, Economics, New England
In March , ISO-New England CEO Gordon van Welie made headlines by putting coal and nuclear options on the table. Given New England's environmental attitudes, it is hard to believe that investors could be persuaded to risk their money developing either of these options.I wonder how many more warnings the folks in New England need before disaster strikes?
[...]
The one thing states can't do is nothing. At a conference this year, van Welie told state utility regulators that if the Everett LNG facility lost its gas supply for a week during a January cold snap, the electric and gas grids in the City of Boston would fail.
Technorati tags: Nuclear Energy, Nuclear Power, Environment, Energy, Politics, Technology, Economics, New England
Comments
Deregulation leads to a lack of long term planning, to higher power prices (=higher corporate profits) and in the long run higher power generation costs (as risks, and hence discount rates, become higher). Deregulation also gives a structural boost to low capital cost generation, such as natural gas plants.
Those things are still being planned and built in spite of North American gas extraction having peaked and gone into decline.
Fiddling while Rome burns, indeed.
On the other hand, as I have recently become an Exelon shareholder I am all for deregulation. Just not in my backyard.
Hehehe.
Back in the seventies, Texans had bumper stickers that said things like:
Let them freeze in the dark
and
Out of gas? Out of work?
Burn a Yankee