Presentation about the CAE Energy Blueprint report on energy
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Minnesota’s aggressive “green” energy policies have created higher electricity rates for residents and businesses across the state and will create an even greater burden in the future if changes are not made. This is according to a set of findings released today by Center of the American Experiment.
Transcript of Presentation about the CAE Energy Blueprint report on energy
THE PROBLEM• Minnesota electricity prices are high and rising
• Green energy is a substantial factor in rising prices
• High prices eliminate MN jobs
• High prices hit low-income households hardest
• Benefits do not justify higher prices
ELECTRICITY PRICESARE HIGH AND RISING
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ELECTRICITY PRICESARE HIGH AND RISING
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ELECTRICITY PRICESARE HIGH AND RISING
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GREEN ENERGY IS A SUBSTANTIAL FACTOR INRISING PRICES• After going green, Minnesota prices begin breaking away.
• Energy efficiency programs alone accounts for 5 percent of a residential bill.
• Investor owned utilities (IOUs) fault renewable mandates in requests to raise rates.
GREEN ENERGY IS A SUBSTANTIAL FACTOR INRISING PRICES• Cooperatives report renewable mandates cost customers millions.
• Xcel settles with North Dakota, admits spreading cost of Minnesota policy across states.
HIGH PRICES ELIMINATE MINNESOTA JOBSEach penny per kilowatt in increased electricity pricestranslates to a loss of 15,700 jobs in the Minnesota manufacturing sector alone.
LOW–INCOME HOUSEHOLDS HIT THE HARDEST
LOW–INCOME HOUSEHOLDS HIT THE HARDEST
BENEFITS DO NOT JUSTIFYHIGHER PRICES• No reliable way to measure benefits
• Claimed benefits are oversold (e.g., green jobs, energy efficiency, effect on climate change).
• Minnesota is too small to impact global carbon emissions.
• Even higher prices
LIKELY CONSEQUENCESOF NOT ACTING
• Fewer jobs
• Strained budgets
WHAT NEEDS TO BE DONE• Set a state goal to reduce consumer electricity prices by 10 percent relative to U.S. prices and direct the PUC to meet the goal.
WHAT NEEDS TO BE DONE• Start to move toward the goal of more affordable, competitive rates by repealing certain green energy policies.
WHAT NEEDS TO BE DONE• Give the PUC the power to suspend current mandates to meet the affordability/ competitiveness goal.
WHAT NEEDS TO BE DONE• Cap the cost of Minnesota’s green energy policies.
WHAT NEEDS TO BE DONE• Hire a nationally recognized accounting firm to audit the costs associated with Minnesota's green energy policies.
WHAT NEEDS TO BE DONE• Annually report on the total cost of Minnesota’s green energy policies and programs.
WHAT NEEDS TO BE DONE• The Minnesota Legislature should estimate the cost to consumers of all new energy legislation before passage.
